Key Highlights
Solana reaches bearish exhaustion
SOL/USD continues a sideways trend
Solana ( SOL) Current Statistics
The current price: $31.92
Market Capitalization: $16,328,872,473
Trading Volume: $1,248,070,002
Major supply zones: $50, $70, $90
Major demand zones: $40, $20, $10
Solana (Sol) Price Analysis October 31, 2022
Solana’s (SOL) price is in an upward correction but retraces above $30. The cryptocurrency has reversed beneath the SMA of the 50-day line. The crypto has started to trade in a range between the moving average lines once again. When the moving average lines are crossed, the altcoin will trend. Solana will go up if the 21-day line SMA support holds. It will increase and surpass the SMA during the 50-day period. The crypto’s price will increase and return to its prior highs of $36 and $40. The altcoin will return to its low price of $30 or $28 if it retraces and breaks below the 21-day line SMA.
Solana Technical Indicators Reading
On the Relative Strength Index for period 14, Solana is at level 52 as it awaits rejection at the most recent high. The cryptocurrency will be forced to make a range-bound move because the price bars are located between the moving average lines. As a result of being above the daily stochastic’s 40% zone, Solana is in a bullish momentum.
Conclusion
Solana is confined in a range but retraces above $30. The altcoin dropped below the oversold area on the 4-hour chart before starting to rise again. Solana had an upward correction during the October 31 downturn, and a candle body tested the 61.8% Fibonacci retracement level. According to the correction, Solana will drop to level 1.618 in the Fibonacci sequence, or $30.95.
You can purchase crypto coins here. Buy LBLOCK
Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.