Skip to content
Solana

Solana (SOL) Price Analysis: SOL/USD retraces to $244 low as bulls attempt to resume upward

Azeez Mustapha
Updated 1 min read
Article Rating:
Based on 1 vote
Login to rate this article.

Solana is in an uptrend, targets $320 high
SOL/USD retraces on the downside, may find support above $244

Solana (SOL) Current Statistics
The current price: $246.81
Market Capitalization: $125,052,674,773
Trading Volume: $2,967,592,151
Major supply zones: $280, $300, $320
Major demand zones: $160, $140, $120

Solana (SOL) Price Analysis November 9, 2021
Solana’s (SOL) price has been in an upward move. On October 25, the uptrend was hindered as the altcoin dropped to $179 as bulls bought the dips. Buyers initiated a fresh uptrend as price broke the resistance at $200. Solana is trading at $246 at the time of writing. Meanwhile, on October 22 uptrend, a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that Solana will rise to level 2.618 Fibonacci extension or $330.71.

SOL/USD – Daily Chart

Solana (SOL) Technical Indicators Reading
Solana is at level 67 of the Relative Strength index period 14.SOL/USD is in the uptrend zone and capable of a further upward move. Solana is above the 30% range of the daily stochastic. The market is in a bullish momentum.

Conclusion
On the 1-hour chart, Solana has been in a downward move. The cryptocurrency has reached bearish exhaustion. The altcoin is currently fluctuating above $244 support. Meanwhile, on November 7 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that Solana will fall to level 2.0 Fibonacci extensions or $244.08.

SOL/USD – 4 Hour Chart

You can purchase crypto coins here. Buy Tokens

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
8cap
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Trade Now
avatrade
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
Trade Now
avatrade
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
Trade Now
avatrade
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Trade Now

More Solana