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

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


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
  • 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

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.

Leave a Reply

Your email address will not be published. Required fields are marked *