Convergence

Solana

Daily

Divergence

Coin

<ul class="news-points"> 
 <li>SOL’s price was resting on the lower level of the Bollinger Bands, which could be taken as a bullish sign.</li> 
 <li>However, a significant bearish technical flag that was triggered by SOL’s daily MACD may lead to continued price drops for SOL.</li> 
 <li>At press time, CoinMarketCap indicated that SOL’s price had dropped more than 1% over the past 24 hours.</li> 
</ul> 
The price of <a href="https://coinedition.com/tag/solana-sol/" rel="noopener noreferrer nofollow">Solana (SOL)</a> had retraced over the past 24 hours to trade at the lower level of the Bollinger Bands (BBANDS) indicator at press time. Although this is generally seen as a potential buy signal by traders, other technical flags on SOL’s daily chart suggested that the altcoin’s price may continue to drop in the coming 24-48 hours. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full"> 
 <img decoding="async" width="1835" height="893" src="https://coinedition.com/wp-content/uploads/2023/09/Sol-1.png" alt="" class="wp-image-334926" srcset="https://coinedition.com/wp-content/uploads/2023/09/Sol-1.png 1835w, https://coinedition.com/wp-content/uploads/2023/09/Sol-1-300x146.png 300w, https://coinedition.com/wp-content/uploads/2023/09/Sol-1-313x152.png 313w, https://coinedition.com/wp-content/uploads/2023/09/Sol-1-380x185.png 380w, https://coinedition.com/wp-content/uploads/2023/09/Sol-1-768x374.png 768w, https://coinedition.com/wp-content/uploads/2023/09/Sol-1-1536x747.png 1536w, https://coinedition.com/wp-content/uploads/2023/09/Sol-1-696x339.png 696w, https://coinedition.com/wp-content/uploads/2023/09/Sol-1-127x62.png 127w, https://coinedition.com/wp-content/uploads/2023/09/Sol-1-159x77.png 159w, https://coinedition.com/wp-content/uploads/2023/09/Sol-1-255x124.png 255w, https://coinedition.com/wp-content/uploads/2023/09/Sol-1-795x387.png 795w, https://coinedition.com/wp-content/uploads/2023/09/Sol-1-440x214.png 440w, https://coinedition.com/wp-content/uploads/2023/09/Sol-1-414x201.png 414w, https://coinedition.com/wp-content/uploads/2023/09/Sol-1-326x159.png 326w, https://coinedition.com/wp-content/uploads/2023/09/Sol-1-377x183.png 377w, https://coinedition.com/wp-content/uploads/2023/09/Sol-1-328x160.png 328w, https://coinedition.com/wp-content/uploads/2023/09/Sol-1-144x70.png 144w, https://coinedition.com/wp-content/uploads/2023/09/Sol-1-123x60.png 123w, https://coinedition.com/wp-content/uploads/2023/09/Sol-1-129x63.png 129w" sizes="(max-width: 1835px) 100vw, 1835px"> 
 <figcaption class="wp-element-caption"> Daily chart for SOL/USDT (Source: <a href="https://www.tradingview.com/x/TUhx58eq/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>) 
 </figcaption> 
 </figure> 
</div> 
SOL’s price was resting on the lower level of the BBANDS indicator at press time, which may be seen as a buy opportunity by traders. However, a bearish technical flag that was triggered over the past 48 hours may invalidate this bullish thesis, resulting in a continued decline in the altcoin’s value over the coming few days. 
In the last 2 days, the daily Moving Average Convergence Divergence (MACD) line crossed below the dai… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/sol-may-continue-dropping-as-sellers-exert-pressure-on-the-altcoin/">SOL May Continue Dropping as Sellers Exert Pressure on the Altcoin</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

SOL May Continue Dropping as Sellers Exert Pressure on the Altcoin

Coin Edition

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