Solana Stabilizes above $13 as It Reaches Exhaustion

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Key Highlights
Solana resumes consolidation above $13 support
SOL/USD is in a range-bound move

Solana ( SOL) Current Statistics
The current price: $13.48
Market Capitalization: $7,211,253,687
Trading Volume: $228,157,668
Major supply zones: $60, $80,$100
Major demand zones: $50, $30, $10

Solana (Sol) Price Analysis December 8, 2022
Solana (SOL) is in the declining zone as it reaches exhaustion. Doji candlesticks, which have small bodies and are indecisive, are what define the price movement. These candlesticks show that both buyers and sellers are unsure of the market’s course. Bearish fatigue has been reached in the downturn. There is no longer any discernible support or resistance. The pricing hasn’t changed much at all. SOL/USD is now trading at $13.48.

Solana Stabilizes above $13 as It Reaches Exhaustion
SOL/USD – Daily Chart

Solana Technical Indicators Reading
On the Relative Strength Index for period 14, Solana is at level 38. As the market consolidates, the price indicator has become horizontal. The moving average lines are below the price bars, which suggests a potential fall. Solana is under the daily Stochastic level of 30 and in negative momentum.

Conclusion
Solana is stabilizing above the $13 support as it reaches exhaustion. The price movement has remained constant. If the current support is broken, the cryptocurrency will drop, even more, reaching a new low of $5.96.

Solana Stabilizes above $13 as It Reaches Exhaustion
SOL/USD – Daily Chart


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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.