Solana Price Prediction: At the lower range, will SOL Crypto succeed or fail?

• Solana price prediction suggests the sideways momentum of the cryptocurrency over the daily price chart.
• SOL crypto is trading at 20 EMA and is still below 50, 100 and 200-days Daily Moving Average.
• Solana cryptocurrency must push the trading volume during the intraday trading session.

According to the Solana price forecast, the SOL coin is now consolidating and is trading sideways just before entering the accumulation period. Before buying, SOL token investors must wait for a gathering of buyers to enhance SOL token prices. This is due to the fact that the SOL token will reach its upper price range during the distribution phase. The Solana ecosystem’s SOL coin has shown to be a wise investment for cryptocurrency owners all around the world. SOL traders need to wait and show that they believe in their asset in order to allow the token to surge for its recovery phase.

Solana’s anticipated price is now $14.86, and in the previous day, it saw a 7.65% growth in market value. The volume of trades decreased by 2.10% during intraday trading. This demonstrates that clients are advancing to raise the pricing range.

The Solana price forecast indicates the sideways movement of the SOL coin over the daily price chart. Volume change must improve from its present poor level in order for SOL to advance toward the upper price range of the consolidation phase. Investors in Solana must be aware of the recovery time for the token. SOL cryptocurrency is currently trading at the 20 EMA and remains below the 50, 100, and 200-day Daily Moving Averages.

What do the Solana Price technical indicators suggest?

Technical indicators indicate a sideways movement for the SOL coin. The Relative Strength Index illustrates the period of consolidation for the SOL token. The RSI is stagnant beneath neutrality at 48. On the MACD, SOL tokens are moving sideways. The MACD line and the signal line, which represents the sideways momentum, are parallel. SOL investors need to keep an eye on the daily price chart for any changes in trend.

Conclusion

According to the Solana price forecast, the SOL coin is now consolidating and is trading sideways just before entering the accumulation period. Before buying, SOL token investors must wait for a gathering of buyers to enhance SOL token prices. This is due to the fact that the SOL token will reach its upper price range during the distribution phase.The Solana price forecast indicates the sideways movement of the SOL coin over the daily price chart. Volume change must improve from its present poor level in order for SOL to advance toward the upper price range of the consolidation phase.

Technical Levels

Support Levels: $12.50 and $10.80

Resistance Levels: $15.20 and $19.12

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.   

Nancy J. Allen

Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.