Solana

Momentum

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    Aug 13, 2023 at 11:43 // Price 
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span> 
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 <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/43c/900_900_1/cqb637eortyr27p7gextr9f2eesyci67.jpg" width="900" height="563" alt="Solana will be forced to trade in a range between $22 and $25" title=""> 
 <p><strong>Solana (SOL) price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> from Coinidol.com indicates that the cryptocurrency has gained momentum after falling below the $22 level.</strong></p> 
 <p style="text-align: justify;"> Now Solana recovered and broke above the 21-day simple moving average. </p> 
 <h2 style="text-align: justify;" id="solana-sol-price-long-term-forecast-bullish">Solana (SOL) price long-term forecast: bullish</h2> 
 <p style="text-align: justify;"> Since August 8, the upward momentum has been stopped near the $25 high. If the current resistance is broken, the cryptocurrency asset will rise to a high of $27. </p> 
 <p style="text-align: justify;"> Solana will be forced to trade in a range between $22 and $25, where resistance is unbroken. At the time of writing, the altcoin is worth $24.68. Meanwhile, the altcoin is trading below the $25 resistance level. The presence of doji candlesticks currently adds uncertainty to the upside. </p> 
 <h2 id="p-style-text-align-justify-p"> <p style="text-align: justify;"> </p> </h2> 
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 <h2 id="solana-sol-price-indicator-analysis">Solana (SOL) Price Indicator Analysis </h2> 
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 <p style="text-align: justify;"> The recent upswing has brought the cryptocurrency to a Relative Strength Index of 57 for the period 14. Although the price bars are above the moving average lines, the rise is stopped at the $25 barrier. The bullish momentum has stalled above the Stochastic daily threshold of 25. </p> 
 <p style="text-align: justify;"> </p> 
 <h3 id="technical-indicators-br">Technical Indicators <br> </h3> 
 <p style="text-align: justify;"> Key supply zones: $20, $25, $30<br> Key demand zones: $10, $5, $1 </p> 
 <p style="text-align: justify;"> <img width="1024" alt="SOLUSD_(4 -Hour Chart) – AUG. 12.jpg" src="https://cdn.thebittimes.com/images/2023/08/13/5646639eecff5f6a7572866ae085a92b.webp" height="570" title="SOLUSD_(4 -Hour Chart) – AUG. 12, 2023"><br> </p> 
 <h2 style="text-align: justify;" id="what-is-the-next-move-for-solana-sol">What is the next move for Solana (SOL)?</h2> 
 <p style="text-align: justify;"> Solana is in a sideways trend below the resistance level on the 4-hour chart. The price of the altcoin oscillates in a small range between $24 and $25. The price movement is limited by the doji candlesticks to the upside. </p> 
 <p style="text-align: justify;"> <img width="1024" alt="SOLUSD_(Daily Chart) – AUG. 12.jpg" src="https://cdn.thebittimes.com/images/2023/08/13/ecb1fe6e711e609444ad2cff71af408b.webp" height="570" title="SOLUSD_(Daily Chart) – AUG. 12, 2023"><br> </p> 
 <p style="text-align: justify;"> Last week we reported that the price of Solana (SOL) has been declining since July 30 and is currently trapped between moving average lines. </p> 
 <p style="text-align: justify;"> <i><span style="color: #959595;">Disclaimer. This <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their own research before investing in funds.</span></i> </p> 
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Solana Upward Momentum Stops In Face Of $25 High

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