Solana (SOL) Holds Above $98 Support but May Decline to $77


Solana declines to $98 and holds
SOL/USD is in a downtrend

Solana (SOL) Current Statistics
The current price: $101.26
Market Capitalization: $51,803,948,894
Trading Volume: $2,325,368,717
Major supply zones: $280, $300, $320
Major demand zones: $160, $140, $120

Solana (SOL) Price Analysis April 12, 2022
Solana’s (SOL) price is in a downtrend but may decline to $77. Since April 3, the cryptocurrency has been falling from the high of $141. The altcoin has fallen to the low of $98.16 and above the 50-day line moving average. SOL/USD is now above the 50-day line SMA but below the 21-day line SMA. The implication is that the altcoin will be compelled to a range-bound move between the moving averages. A break below the 50-day line SMA will sink the altcoin to the low of $77. The market will resume upward to retest the previous highs if the 50-day line SMA holds.

Solana (SOL) Holds Above $98 Support but May Decline to $77
SOL/USD – Daily Chart

Solana (SOL) Technical Indicators Reading
Solana fell to level 43 of the Relative Strength Index for period 14. The altcoin is trading in the downtrend zone and is capable of a further downward move. The crypto’s price is between the moving averages indicating a possible range bound movement of the cryptocurrency. Solana is below the 20% range of the daily stochastic. That is, the selling pressure has reached bearish exhaustion. Buyers are likely to emerge in the oversold region of the market. The 21-day line and the 50-day line SMAs are sloping downward.

SOL/USD is in a downward move as price breaks below the moving averages but may decline to $77. Meanwhile, on April 6 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Solana will fall to level 1.618 Fibonacci extensions or $94.79.

 Solana (SOL) Holds Above $98 Support but May Decline to $77
SOL/USD – 4 Hour 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
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.