Convergence

Solana

Rise

Divergence

The post <a href="https://coinpedia.org/price-analysis/solana-price-continues-to-battle-with-bears-will-sol-price-conclude-the-month-positively/">Solana Price Continues To Battle With Bears! Will SOL Price Conclude The Month Positively?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The Solana price continues it struggle to hold the price above the key resistance level of $70 as the coin repeatedly experienced a pullback in value. Moreover, the SOL token has experienced a correction of over 4% in value, highlighting a reduced buying pressure in the market. 
The <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/">SOL price</a> displayed massive volatility for over a week as the price constantly bounced between $51.32 and $62.81. Following this, the bulls lost momentum, and the price traded in a closed range between $54.01 and $59.73 for a while. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/veCT9BgrYVbIlFTjKAViesQ-_9gaOATQ7ISiUwydo4NCq9UJN-8MFF3a43Bx4pk0aizrE60cE-wwOigVJnfGkVWZo5NG5oVG4UPd289TemoOIZH2vSX_ky58SZwHOQ2Z4Or8vRY6TmFxEKF-eukPaDk" alt="Solana Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: SOL/USDT
 </figcaption>
</figure> 
The bulls gained momentum, but the rally was short-lived as the price faced rejection at $62.81. After this, the price traded in a narrow space between $59.73 and $62.81 for a while, after which the bulls attempted to break out of the resistance level but faced rejection at $65.90. 
Following this, the price was pulled back into the range. After multiple attempts, the coin broke out of the range and jumped over 17% before facing rejection at $77.500. 
Since then, the price has displayed massive price volatility in the chart. Currently, the price is on the verge of testing its important support level at $70, of which the outcome is unpredictable. 
<h2 class="wp-block-heading" id="h-will-sol-price-rise-back-up">Will Sol Price Rise Back Up?</h2> 
The Moving Average Convergence Divergence (MACD) displays a rising red histogram, indicating a higher selling-over-buying pressure in the market. Further, the averages show a constant decline in the chart, suggesting the price will continue losing momentum in the coming time. 
If the bulls hold the price above the support level of $70, it will regain momentum and prepare to test its resistance level of $75 soon. Further, if the market holds the price at that level, the Solana token will attempt to test its upper resistance level of $79.65 this month. 
Negatively, if the bears overpower the bulls, the price will lose momentum and fall to test its support level of $65.90 this week. Moreover, if the bears continue to dominate the market, it will plunge further and prepare to test its lower support level of $62.81 in the coming days.

Solana Price Continues To Battle With Bears! Will SOL Price Conclude The Month Positively?

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