Solana

<p>TL;DR Breakdown</p><ul><li>The recent Solana price analysis shows a decrease in price.</li><li>Price levels have dropped down to $20.66 today.</li><li>Support for SOL is present at $18.26.</li></ul><p>According to the <a href="https://www.cryptopolitan.com/solana-price-prediction/" rel="noopener noreferrer nofollow">Solana price</a> analysis, the price value has slightly decreased as of late. As the coin has been consolidating, the bulls have been consistently gaining for the past two days. Because of this, the price of the coin has been fluctuating near the $20 range. The coin’s price has dropped today to $20.66, still in the $20 range, but since the bearish momentum is not very strong, a further decline in value is not anticipated. However, the bears have seized their opportunity to go in front.</p><h3 id="sol-usd-1-day-price-chart-bears-re-enter-the-market-bringing-a-2-58-percent-loss">SOL/USD 1-day price chart: Bears re-enter the market, bringing a 2.58 percent loss</h3><p>After the bears effectively took control of the price action today, the 1-day Solana price analysis predicts a decline in the price. The price has fallen to a value of $20.66, but analysts predict that it will stay range-bound at least for today. The value of the currency has decreased by nearly 2.58 percent over the past 24 hours, and it has decreased by 0.90 percent over the previous 7 days.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/10d7cef4764543d58373978a908781f4.png" />SOL/USD 1-day price chart. Source: <a href="https://www.tradingview.com/symbols/SOLUSD/" rel="noopener noreferrer nofollow">TradingView</a></p><p>In the 1-day price chart, the moving average (MA) is visible at $20.83, just a hair above the current price value. The average line of the Bollinger bands is currently moving at the $21.08 level. The lower band of the Bollinger bands, which represents support for the falling SOL price, is present at the $19.72 level, while the upper band, which represents resistance, is present at the $22.44 level. This indicates minimal volatility for SOL. The relative strength index (RSI) is also trending slightly lower and has now dipped to index 48 in the lower neutral zone, which suggests that sellers are currently dominating the market.</p><h3 id="solana-price-analysis-recent-developments-and-further-technical-indications">Solana price analysis: Recent developments and further technical indications</h3><p>The most recent price data shows that the 4-hour Solana price analysis is also moving in the bears’ favor. After eight hours of activity, the bears are now exhibiting signs of exhaustion, as a small green candlestick has appeared on the hourly chart, signaling the emergence of support for SOL.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/b84089c420294d57bb491b98c71ce8a7.png" />SOL/USD 4-hours price chart. Source: <a href="https://www.tradingview.com/symbols/SOLUSD/" rel="noopener noreferrer nofollow">TradingView</a></p><p>The bears have since taken back control as the price has fallen to $20.66 from the lead position held by the bulls. The fact that volatility is decreasing is a reassuring indication for the future. Additionally, the moving average for the 4-hour price indicator is currently $20.93.</p><p>Additionally, the Bollinger bands are converging, which has led to the upper band reaching a value of $21.33 and the lower band reaching a value of $20.21. The RSI score has leveled off at index 45 as the bullish support has just entered, and the RSI curve has also gone horizontal.</p><h3 id="solana-price-analysis-conclusion">Solana price analysis conclusion</h3><p>The price of <a href="https://www.cryptopolitan.com/solana-price-prediction/" rel="noopener noreferrer nofollow">Solana</a> has dropped to $20.66, confirming the resumption of the bearish momentum, according to the 1-day and 4-hour price analysis. The market has seen more sellers than buyers, which is why the bearish tendency has persisted. However, if the recent support holds, then the following trading period may see a revival of trends.</p><p>Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.</p>

Solana price analysis: Bears react, dropping SOL to the $20.66 mark

Table of Contents

Cryptopolitan_News

Other articles published on Apr 6, 2023

Arbitrum Foundation Offers Crypto Governance Concessions After ARB Holder Uproar

StrikeX — The RWA Revolution is here….

Rubic Weekly Report 04/06/2023

Magic Eden Announces its BTC Ordinals Launchpad for April 7th

Aptos Price Analysis 06/04: APT Market Bears Down, Short-Term Gains Ahead?

Tech Industry Mourns the Loss of Bob Lee, Cash App Creator

Join our free newsletter for daily crypto updates!