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- 1 Solana price (SOL) surged 4.23% in the last 24 hours and currently trades at $29.71.
- 2 SOL crypto price has gained over 36% in the last eight Intraday Sessions.
- 3 Solana’s price bounced back from the 200-day EMA and surged to break higher.
Solana’s price is up 4.23% in Intraday today and has been persisting in a bullish outlook in the recent sessions. The SOL crypto has been in an inclining trend since the price broke above the 200-day EMA.
The Solana price has added over 35% to the market cap in the past eight sessions. The SOL crypto price bounced back from the 50-day EMA and surged higher breaking above the previous swing high.
The volume analysis shows that the Solana crypto price has a trading volume of $1.012 Billion in the past 24 hours which is 12% less than the last day. The crypto has a market cap of $12.40 Billion and ranks 7th in the crypto market. The volume-to-market-cap ratio is 8.22% indicating mild volatility in the market.
Solana Price Might Break Above $30 Level
The Solana price currently trades at $29.71 with an intraday gain of 4.23%. The SOL crypto price persists in a strong bullish trend and might gain more if it continues with the momentum.
Looking over the chart, there is a minor supply zone near $32 and a major supply zone near $37. The price may break above the minor resistance and continue till the major resistance.
Though the price has risen in the past 24 hours, however, the volume is down 12% in the period. The SOL crypto is losing buying volume indicating that the bulls are losing momentum. SOL crypto needs more buyers to surpass the upper supply zones.
RSI Shows Price Entering Overbought Zone
RSI is showing a positive crossover of the EMA. Moreover, the RSI has entered an overbought region indicating a possible selloff may occur and the price may show declines.
The EMA analysis shows that the SOL price bounced back from the 200-day EMA and surged to break above the recent swing high indicating a bullish outlook in the short term.
Conclusion
Solana’s price is bullish and up 4.23% today. The SOL crypto broke above the 200-day EMA and rose from the 50-day EMA. The price is $29.71 and has a market cap of $12.40 Billion. The volume is low and down 12% in 24 hours.
The price may face resistance at the $32 and $37 levels. The price needs more buyers to overcome the supply zones. The volume-to-market-cap ratio is 8.22% indicating mild volatility.
Technical Levels
- Support Levels: $25.55 and $21.21.
- Resistance Levels: $32.31 and $37.12.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
