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- 1 The Solana network coin’s price decreased by 10.38% over the last week and is up by 2.06% over the last 24 hours.
- 2 The price of the SOL coin is trading at $22.1491 and the 52-week range is $8 – $32.
The SOL coin has not performed well in the last month, decreasing by 13.09% and by 5.57% in the last six months. Solana Network (BITSTAMP: SOL) coin has a positive year-to-date return of 121.98% and a negative one-year return of 37.46%.
Solana Network crypto declined by 18.93% in market value and surged by 49.08% in trading volume in the last 24 hours, as per the Coinmarketcap, a crypto data analysis website. Its market value is $8,976,787,213 and its trading volume is $651,004,413. There are 407,234,044 SOL in circulation.
Solana coin’s (SOL) open interest is $240.36 Million. As per Coinglass, another crypto analysis website, it fell by 23.76% in the previous session. The long versus short ratio for 24 hours is 0.9433. The short liquidation is $1.83 Million versus $6.53 Million for the long liquidation.
Solana Price Technical Analysis in the 1-Day Timeframe
In the past two months, the SOL coin price showed both upward and downward moments, with upward support of $15.8006 to a high at around $28.3298 and downward by falling from a high during this span.
At the time of publication, the SOL Coin’s current price is around $22.1491 trading at the demand zone where liquidity is present in the Solana coin. The buyers most probably have pending buy or sell orders in Solana coin waiting to be triggered and the same can be spotted in the past over daily time frame chart on the Solana tool, either the Solana price consumes liquidity and crashes or takes support and rises.
Therefore, If Solana fails to maintain the current level. The SOL coin price could continue to drag downwards and hit the nearest support levels around $18.9493 and $15.8006. However, if the Coin price sustains the current level and Solana price increases, then it might reach the nearest resistance levels of $25.1811 and $28.3298.
At the time of publishing, the SOL coin price (BITSTAMP: SOL) is trading beneath the 20, and 50-day exponential moving averages (EMA), which is declining the SOL Coin price trend down.
Hence, SOL Coin price prediction estimates the prices to decline downwards, indicating a bearish overview over the daily time frame chart for its price.
The MACD line at 0.1381 and the signal line at 0.1573 is below the zero line both lines crossed down to each other and a bearish crossover is spotted in the MACD oscillator, indicating bearish signals. The current value of the RSI is 41.60 points and the 14-day SMA is at the median line at 50.84 points, which indicates bearish sentiments as RSI took rejection on the 14 SMA line and headed for the oversold territory in the market for the SOL coin and highlighting bearishness.
Conclusion
SOL coin price prediction highlights the bearish sentiments and perspectives regarding the SOL coin in the daily time frame. Solana’s price action highlights a bearish view at the time of publishing. Moreover, the technical parameters of the Solana price suggest the continuation of the downtrend over the daily time frame chart. Major reliable and trustworthy indicators MACD, RSI, and EMA, suggest bearish signals regarding the SOL coin price.
Technical Levels:
- Support levels: The nearest support levels are $18.9493 and $15.8006.
- Resistance levels: The nearest resistance levels are $25.1811 and $28.32987.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
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.
