Solana (SOL) Fails to Breach the $60 Resistance as It Slumps to $47
Login

Solana (SOL) Fails to Breach the $60 Resistance as It Slumps to $47

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

Azeez Mustapha

Updated:

Solana recovers from $37 low
SOL/USD resumes sideways trend

Solana (SOL) Current Statistics
The current price: $48.82
Market Capitalization: $25,094,840,774
Trading Volume: $1,707,462,272
Major supply zones: $280, $300, $320
Major Demand zones:$160,$140,$120

Solana (SOL) Price Analysis May 24, 2022
Solana’s (SOL) price is in a sideways move as it slumps to $47. The current bearish trend has subsided as bulls bought the dips. Solana made an upward correction as price reached the high of $59. The bulls could not breach the resistance at $60. The $60 price level was the previous support of May 10. On the upside, if the bulls break the resistance at $60, the market will rally to $93. However, the crypto was repelled as it fell to the low of $47. The market has resumed a sideways move above the $47 support. On the downside, the bulls are currently defending the $40 support.

Solana (SOL) Fails to Breach theResistance as It Slumps to
SOL/USD – Daily Chart

Solana (SOL) Technical Indicators Reading
The altcoin is at level 36 of the Relative Strength Index for period 14. Buyers are emerging from the oversold region of the market. Solana is above the 30% range of the daily stochastic. The altcoin is in a bullish momentum . The 21-day line and the 50-day line SMAs are sloping downward indicating the downtrend

Conclusion
SOL/USD is in a sideways move as it slumps to $47. The current bearish trend has subsided as the crypto holds above the $40 support. It is presently fluctuating between $43 and $60 price levels. Meanwhile, on May 12 downtrend; a retraced candle body tested the 78.6 % Fibonacci retracement level. The retracement indicates that Solana will fall to level 1.272 Fibonacci extensions or $21.71.

Solana (SOL) Fails to Breach theResistance as It Slumps to
SOL/USD – Daily 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