Cryptocurrency

Solana

Rise

<div class="coinidol">
 <div class="info">
  <div class="news_info">
   Oct 29, 2023 at 11:32 // Price
  </div>
  <div class="author-box">
   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
  </div>
 </div> <img src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" width="900" height="575" alt="Solana has been moving sideways below the resistance zone" title="">
 <p><strong>The price of Solana (SOL) maintained its current rise and reached the target price of $33.51. Cryptocurrency price <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/analysis.html">Analysis</a> brought by Coinidol.com.</strong></p>
 <h2 style="text-align: justify;" id="solana-long-term-price-forecast-bullish">Solana long term price forecast: bullish</h2>
 <p style="text-align: justify;"></p>
 <p style="text-align: justify;">According to the price trend, Solana reached a high of $33.92 before declining. In other words, the altcoin has been trading below the $34.00 resistance level since October 25. Further gains for the altcoin are unlikely as the market has reached an overbought zone. Solana reached a high of $32.50 before being pushed back in a similar market action on July 14. The cryptocurrency showed the wick of a long candle after falling sharply above the $26 support. The extended wick of a candlestick signals strong selling pressure at a higher price level. Meanwhile, the price of the cryptocurrency is hovering below the $34 barrier zone.</p>
 <h2 style="text-align: justify;" id="solana-price-indicator-analysis">Solana price indicator analysis</h2>
 <p style="text-align: justify;"></p>
 <p style="text-align: justify;">Solana is rising since the price bars are consistently above the moving average lines. Near the resistance zone, the lower time price bars are above the 21-day SMA. The price advance has stalled at the recent high. If the bulls fail to break the resistance zone, Solana could fall below the 21-day SMA.</p>
 <p style="text-align: justify;"><img width="987" alt="SOLUSD_(Daily Chart) – OCT. 28.23.jpg" src="https://cdn.thebittimes.com/images/2023/10/29/a88d3bce633218d591c457ffa5d9851f.webp" height="581" title="SOLUSD_(Daily Chart) – OCT. 28.23.jpg"><br></p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators</h3>
 <p style="text-align: justify;"></p>
 <p style="text-align: justify;"><b>Key supply zones: $20, $25, $30 </b></p>
 <p style="text-align: justify;"><b> </b></p>
 <p style="text-align: justify;"><b> Key demand zones: $10, $5, $1</b></p>
 <h2 style="text-align: justify;" id="what-is-the-next-move-for-solana">What is the next move for Solana?</h2>
 <p style="text-align: justify;"></p>
 <p style="text-align: justify;">Solana has experienced bullish exhaustion after retesting the $34 level. The altcoin has been moving sideways below the resistance zone since October 25. The altcoin will crash when sellers appear in the overbought sector of the market.</p>
 <p style="text-align: justify;"><img width="987" alt="SOLUSD_ (4 Hour Chart) – OCT.28.23.jpg" src="https://cdn.thebittimes.com/images/2023/10/29/ea87ffacd5c68e0080a1dac43c0bfd43.webp" height="581" title="SOLUSD_ (4 Hour Chart) – OCT.28.23.jpg"><br></p>
 <p style="text-align: justify;">On October 15, 2023 cryptocurrency analytics specialists of Coinidol.com stated that the cryptocurrency asset fell below the 21-day simple moving average but remained above the 50-day simple moving average. On October 13, buyers kept the price above the 21-day line SMA, suggesting that the cryptocurrency may be on the upswing.&nbsp;</p>
 <p style="text-align: justify;"><i><span style="color: #a0a0a0;"><b>Disclaimer.</b> This <a rel="noopener noreferrer nofollow" 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 research before investing in funds.</span></i></p>
 <p style="text-align: justify;"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/solana-falters-on-resumption-of-bearish-rise-below-34-tbt68261.html">https://thebittimes.com/solana-falters-on-resumption-of-bearish-rise-below-34-tbt68261.html</a></p>

Solana Falters On Resumption Of Bearish Rise Below $34

Table of Contents

TheBitTimes

Other articles published on Oct 29, 2023

Join our free newsletter for daily crypto updates!