Solana

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    Jul 31, 2023 at 07:54 // Price 
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span> 
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 <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/f82/900_900_1/75s2js0aux5cm52n7yza9027fqcc1m5c.jpg" width="900" height="563" alt="Solana will continue to move sideways" title=""> 
 <p><strong>The price of Solana (SOL) is correcting to the upside.</strong></p> 
 <h2 style="text-align: justify;" id="solana-long-term-price-forecast-bullish">Solana long term price forecast: bullish </h2> 
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 <p style="text-align: justify;"> The altcoin rallied on July 26, breaking through the 21-day line SMA. However, the upper resistance of $26 has stopped Solana's ability to go higher. The altcoin has held above the 21-day line SMA for the last five days. Due to the presence of Doji candlesticks, further upward movement of the altcoin seems speculative. </p> 
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 <p style="text-align: justify;"> Selling pressure will increase if the bears break below the 21-day line SMA. If the 21-day line SMA is broken, the price will fall to a low above the 50-day line SMA. In other words, Solana will continue to fall until it reaches a low of $20. SOLin the meantime /USD is trading at $25.06. </p> 
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 <h2 style="text-align: justify;" id="solana-price-indicator-analysis">Solana price indicator analysis </h2> 
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 <p style="text-align: justify;"> On the Relative Strength Index, Solana is at the 58 level for the 14 period. </p> 
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 <p style="text-align: justify;"> Although it is in an uptrend, the altcoin could fall. The price bars are moving above the 21-day line SMA, which could lead to a rise. The bullish momentum of the daily stochastic has weakened above the 40 level. The horizontal slope of the moving average lines suggests a sideways trend. </p> 
 <p style="text-align: justify;"> <img width="1024" alt="SOLUSD(Daily Chart) – July 30.23.jpg" src="https://cdn.thebittimes.com/images/2023/07/31/92381e67576c4e7a5e9bf095b6690afe.webp" height="527" title="SOLUSD(Daily Chart) – July 30.23.jpg"><br> </p> 
 <h3 style="text-align: justify;" id="technical-indicators"> Technical Indicators</h3> 
 <p> <b>Key&nbsp;supply zones: $20, $25, $30</b> </p> 
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 <p style="text-align: justify;"> <b>Key&nbsp; demand zones: $10, $5, $1</b> </p> 
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 <h2 style="text-align: justify;" id="what-s-next-for-solana"> What's next for Solana? </h2> 
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 <p style="text-align: justify;"> Solana will continue to move sideways as long as it fails to break above resistance at $26. Currently, the price is rejected at a high of $26, which will force it to decline. The price indicator predicts that the cryptocurrency will retest its low at $20. </p> 
 <p style="text-align: justify;"> <img width="1024" alt="SOLUSD_(4 Hour Chart) – July 30.23.jpg" src="https://cdn.thebittimes.com/images/2023/07/31/5b38ddf1523e9df6ddc94b73a119338c.webp" height="527" title="SOLUSD_(4 Hour Chart) – July 30.23.jpg"><br> </p> 
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 <p style="text-align: justify;"> <i><span style="color: #a0a0a0;">Disclaimer. This <a rel="noopener noreferrer nofollow" title="Category Analysis" 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 own research before investing in funds.</span></i> </p> 
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Solana Can Not Overcome $26 High, Threat Of Price Drop

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TheBitTimes

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