Solana

Despite the positive performance of Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) and Ethereum (<a href="https://finbold.com/cryptocurrency/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) in March, Solana (<a href="https://finbold.com/cryptocurrency/solana/" rel="noopener noreferrer nofollow">SOL</a>), which was once touted as an ‘Ethereum killer,’ experienced a marginal decline in value over the month.Moving into April, the price of <a href="https://finbold.com/guide/how-to-buy-solana/" rel="noopener noreferrer nofollow">Solana</a> has remained relatively stagnant, with the asset briefly reaching a high of $1.42 in the past week, representing a meager 0.41% increase and maintaining a narrow price range. Investors are hopeful that the token can return to its high of $26.50 at the end of February, especially given that the discussions around FTX’s collapse have largely subsided.To predict Solana’s future value, Finbold consulted the machine learning algorithms at the crypto tracking platform PricePredictions. According to the latest <a href="https://pricepredictions.com/forecast/solana" rel="noopener noreferrer nofollow">data</a> retrieved on April 7, the algorithms utilizing AI technology predict that SOL will be trading at $19.37 on April 30, 2023.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/686fc8bda65f4ed3af0110fb8cee9f96.jpg" />Solana 30-day price prediction. Source: <a href="https://pricepredictions.com/forecast/solana" rel="noopener noreferrer nofollow">PricePredictions</a>If the projections based on various indicators such as relative strength index (<a href="https://finbold.com/guide/rsi-indicator/" rel="noopener noreferrer nofollow">RSI</a>), moving averages (<a href="https://finbold.com/guide/moving-average/" rel="noopener noreferrer nofollow">MA</a>), moving average convergence divergence (<a href="https://finbold.com/guide/macd-indicator/" rel="noopener noreferrer nofollow">MACD</a>), Bollinger Bands (<a href="https://finbold.com/guide/bollinger-bands-definition/" rel="noopener noreferrer nofollow">BB</a>), and others turn out to be accurate, it would imply a decline in Solana’s price compared to its current value at press time.<h2 id="header-0">Solana price analysis</h2>Solana’s current market price is observed at $20.39, with support at $19.26 and  <a href="https://finbold.com/guide/support-and-resistance/" rel="noopener noreferrer nofollow">resistance</a> at $21.89. These levels indicate that SOL may find it challenging to surpass the resistance level and may not fall below its support level in the near termCurrently, SOL is down -$ 0.29 (-1.38%) in the last 24 hours and up slightly at 0.5% over the previous week with a total market capitalization of $7.9 billion.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/6e7d4d77c0ee4cd3a4c178cfc0b45568.jpg" />Solana 7-day price chart. Source: <a href="https://finbold.com/cryptocurrency/solana/" rel="noopener noreferrer nofollow">Finbold</a>As per the one-day gauges available on the finance analytics platform, TradingView, the overall market sentiment towards Solana is currently bearish. The summary rating of Solana is in the ‘strong sell’ area with a score of 17, as indicated by the moving averages, which suggest a ‘strong sell’ rating of 14, and the oscillators, which point towards a ‘sell’ rating of 3.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/9a920d571e4a40c2a842b9623b5ce9ae.jpg" />Solana one-day sentiment gauges. Source: TradingViewThese indicators imply that the selling pressure on Solana’s price may be significant, while the buying momentum may remain stagnant or may not be strong enough to generate a bullish outlook in the near term.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

Machine learning algorithm sets Solana price for April 30, 2023

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