Solana Moves Sideways as Bears Threaten to Breach the $20 Low

Key Highlights
Solana risks further decline
SOL/USD is confined between the moving average lines

Solana ( SOL) Current Statistics
The current price: $22.01
Market Capitalization: $11,873,381,557
Trading Volume: $313,761,125
Major supply zones: $60, $80,$100
Major demand zones: $50, $30, $10

Solana (Sol) Price Price Long-Term Prediction: Bullish
Solana’s (SOL) price has been restrained by the moving average lines as bears threaten to breach the $20 low. The bears attempted to cross the 50-day SMA but were unsuccessful. Since the altcoin’s price collapse on April 21, it has likewise been trading in a narrow range between $20 and $24. If the bulls overcome the 21-day SMA or the resistance at $24, Solana will rise to $26. However, if the bears manage to breach below the 50-day SMA, the altcoin runs the chance of seeing another fall. The cryptocurrency asset will drop much more, reaching a low of $20.

Solana (Sol) Price Indicator Analysis
Solana is at level 48 on the Relative Strength Index for period 14. The altcoin could continue to fall. The downward movement is accelerated by the price bars’ proximity to the moving average lines. Solana has had enough bearishness. The daily stochastic level is below level 20 at this time.

What Is the Next Move for Solana (SOL)?
Solana has been moving in a range as bears threaten to breach the $20 low. When the range bound levels are broken, the crypto asset will trend. The oversold area of the market for the altcoin has been reached. It’s conceivable that buyers will show up to drive prices up.

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