Solana

The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/sol-price-analysis-with-a-pullback-to-22-whats-next-for-sol/">SOL Price Analysis: With A Pullback To $22, What’s Next for SOL?&nbsp;</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Stabilizing after an intense bearish hit in the Uptober season, the Solana (SOL) price treads carefully over crucial support zones. With the intent to find a reversal spot, the buyers are preparing a solid footing to revive the upside momentum. 
With such moves, the <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/">Solana price prediction</a> anticipates a bullish journey for SOL price in the upcoming altseason.&nbsp; 
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Maintaining a declining trend following the blunt rise in early 2023, the correction phase in the <a href="https://coinpedia.org/price-analysis/crypto-market-analysis-heres-what-next-for-xrpxrp-solana-sol-chainlink-link-price/">SOL coin</a> price took the shape of a falling channel. The bearish channel started from the overhead rejection at $30, ushering to a quick correction of 35% to the $17.75 mark.&nbsp;&nbsp; 
However, the 10% jump in Solana within the falling channel led to a 35% increment till 1st October. Furthermore, the uptrend breached the $20 mark, which proved to be a crucial resistance zone.&nbsp; 
The SOL price action displays a pullback phase due to the high price rejection observed at the $25 mark. This directs to a sideways trend between the $22 support zone and the overhead resistance of $25.&nbsp; 
Currently, the pullback phase comes as a retest of the upside breakout and hints at the opportunity of a positive turnaround. To support this thesis, the Solana trend movement displays the potential of a morning star forming with the support of a 200-day EMA.&nbsp; 
The <a href="https://coinpedia.org/price-analysis/sol-price-analysis-solana-eyes-30-with-bullish-setups/">SOL price</a> is currently trading at $22.15 with a 0.14% intraday growth with the two doji candles. Followed by the sharp correction the day before yesterday, this hints at the possibility of a morning stop pattern.&nbsp; 
Technical Indicators: 
Exponential Moving Averages: The breakout rally breached the 50 and 200-day EMA, leading to increased proximity. This signals a greater possibility of a golden crossover.&nbsp; 
RSI indicator: The RSI indicator takes a sharp reversal from the overbought zone to crash under the 14-day SMA. However, the RSI line sustains above the halfway line, presenting a bullish fuel left in the uptrend journey.&nbsp;&nbsp; 
Also Read: <a href="https://coinpedia.org/price-analysis/sol-price-analysis-solana-price-records-the-highest-inflow-since-march-2022-whats-next-for-sol-coin/">SOL Price Analysis: Solana Price Records The Highest Inflow Since March 2022! What’s Next For SOL Coin?</a> 
<h2 class="wp-block-heading" id="h-will-the-sol-price-reach-30">Will the SOL Price Reach $30?</h2> 
If the <a href="https://coinpedia.org/altcoin/solana-sol-price-loses-key-momentum-following-its-largest-inflow-week-since-march-2022/">SOL coin price</a> sustains above the 200-day EMA, the possibility of an uptrend continuation to the $28 mark is significantly higher. Moreover, the uptrend may show a golden crossover and start a bullish chain reaction to reclaim further resistance levels. 
However, a downtrend continuation below the crucial EMAs will endanger the bullish dominance at the psychological level of $20. In such a case, the Solana trend might retest at $19.45.

SOL Price Analysis: With A Pullback To $22, What’s Next for SOL?

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