Solana Revisits and Holds above $30 Crucial Support
Login

Solana Revisits and Holds above $30 Crucial Support

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Highlights
Solana revisits its previous low at $30 twice
SOL/USD resumes upward move

Solana ( SOL) Current Statistics
The current price: $31.07
Market Capitalization: $15,884,983,137
Trading Volume: $1,093,485,801
Major supply zones: $50, $70, $90
Major demand zones: $40, $20, $10

Solana (Sol) Price Analysis September 6, 2022
Solana’s (SOL) price is in a downtrend as it revisits and holds above $30 crucial support. Since the August 28 price slump, the cryptocurrency has been in a range bound move between $30 and $33 price levels. On September 6, buyers attempted to push the altcoin above the 21-day line SMA but were repelled. On the upside, if buyers push the altcoin above the 20-day line SMA, the cryptocurrency will rise to the high of $39. However, Solana will face selling pressure at the recent high. On the downside, if the bears break below the current support, the altcoin will decline to the low of $26.

Solana Revisits and Holds above $30 Crucial Support
SOL/USD – Daily Chart

Solana Technical Indicators Reading
Solana is at level 36 of the Relative Strength Index for period 14. The cryptocurrency is in the downtrend zone and may further decline. The crypto’s price bars are below the moving average lines which indicates further decline. The altcoin is below the 40% range of the daily stochastic. Solana is in a bearish momentum.

Conclusion
Solana has been in a sideways move since August 28. Today, the altcoin is rising after retesting the $30 support. On a weekly chart, a retraced candle body tested the 78.6 % Fibonacci retracement on March 28. The retracement suggests that Solana will fall to level 1.272 Fibonacci extension or level $30.38. From the price action, Solana has retested 1.272 Fibonacci extension twice and resumed upward .

Solana Revisits and Holds above $30 Crucial Support
SOL/USD – Weekly Chart

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
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
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.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News