Solana price has been volatile over the last week, with no significant change in the last 24 hours. In the last week, SOL fell by 6%. At the moment, the Solana price is neither swaying towards the bullish zone nor the bearish territory.<\/p>\n
The technical outlook for the altcoin has flashed mixed signals. Broader market weakness could be attributed to the altcoin\u2019s mundane price action.<\/p>\n
Bitcoin slipped below the $20,000 mark and many other prominent altcoins also travelled south.<\/p>\n
Buying strength on Solana\u2019s daily chart remains in the negative with chances of it dropping on its chart further. The bulls are also trying hard to defend the $29 price mark.<\/p>\n
A fall below the aforementioned level could push SOL into a bearish pit.<\/p>\n
Solana prices had recently formed a rounding bottom, making buyers enthusiastic about its next price movement. However, the coin could not hold onto the bullish anticipation. The global cryptocurrency market cap today is $1 trillion, with a 0.1% negative change in the last 24 hours.<\/p>\n
Solana Price Analysis: One Day Chart SOL was trading at $33 at the time of writing. The bulls had surrendered to the $37 price level and caused the price to fall to its next support line.<\/p>\n At the moment, the bulls are trying to defend the price of the altcoin at $29. The overhead resistance for the coin stood at $37.<\/p>\n If SOL moves past the $37 mark, the coin can attempt to trade near the $40 price mark. On the flip side, one push from the bears will make Solana land at $27.<\/p>\n The amount of SOL traded in the last session declined slightly, indicating that the number of buyers had slightly declined.<\/p>\n Technical Analysis SOL flashed declining buying strength on the one-day chart. Over the last 24 hours, Solana however noted a small uptick in buying strength depicting that buying strength was returning to the market.<\/p>\n The Relative Strength Index was seen below the half-line which meant that sellers were more in number as compared to buyers.<\/p>\n Solana price was below the 20-SMA which corresponded with decreased buying strength and that sellers were driving the price momentum in the market.<\/p>\n Solana flashed\u00a0 sell signal on the one-day chart | Source: SOLUSD on TradingView<\/a><\/p>\n The technical indicators for the Solana price pointed towards a mixed signal. Some indicators indicated the onset of positive price action while the other ones continued to remain negative.<\/p>\n Moving Average Convergence Divergence signals the market\u2019s momentum and change in price action.<\/p>\n The MACD underwent a bearish crossover and pointed towards a sell signal for the coin. Chaikin Money Flow is responsible for measuring capital inflows and outflows at a given point in time.<\/p>\n CMF was peeking above the half-line, which showed that capital inflows were more than outflows at the time of writing.<\/p>\n Featured image from GOBankingRates, Chart: TradingView.com<\/a><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Solana price has been volatile over the last week, with no significant change in the last 24 hours. In the last week, SOL fell by 6%. At the moment, the Solana price is neither swaying towards the bullish zone nor the bearish territory.<\/p>\n The technical outlook for the altcoin has flashed mixed signals. Broader market weakness could be attributed to the altcoin\u2019s mundane price action.<\/p>\n Bitcoin slipped below the $20,000 mark and many other prominent altcoins also travelled south.<\/p>\n Buying strength on Solana\u2019s daily chart remains in the negative with chances of it dropping on its chart further. The bulls are also trying hard to defend the $29 price mark.<\/p>\n A fall below the aforementioned level could push SOL into a bearish pit.<\/p>\n Solana prices had recently formed a rounding bottom, making buyers enthusiastic about its next price movement. However, the coin could not hold onto the bullish anticipation. The global cryptocurrency market cap today is $1 trillion, with a 0.1% negative change in the last 24 hours.<\/p>\n Solana Price Analysis: One Day Chart SOL was trading at $33 at the time of writing. The bulls had surrendered to the $37 price level and caused the price to fall to its next support line.<\/p>\n At the moment, the bulls are trying to defend the price of the altcoin at $29. The overhead resistance for the coin stood at $37.<\/p>\n If SOL moves past the $37 mark, the coin can attempt to trade near the $40 price mark. On the flip side, one push from the bears will make Solana land at $27.<\/p>\n The amount of SOL traded in the last session declined slightly, indicating that the number of buyers had slightly declined.<\/p>\n Technical Analysis SOL flashed declining buying strength on the one-day chart. Over the last 24 hours, Solana however noted a small uptick in buying strength depicting that buying strength was returning to the market.<\/p>\n The Relative Strength Index was seen below the half-line which meant that sellers were more in number as compared to buyers.<\/p>\n Solana price was below the 20-SMA which corresponded with decreased buying strength and that sellers were driving the price momentum in the market.<\/p>\n
\nSolana was priced at $33 on the one-day chart | Source: SOLUSD on TradingView<\/a><\/p>\n
\nSolana registered less buying strength on the one-day chart | Source: SOLUSD on TradingView<\/a><\/p>\n
\nSolana was priced at $33 on the one-day chart | Source: SOLUSD on TradingView<\/a><\/p>\n
\nSolana registered less buying strength on the one-day chart | Source: SOLUSD on TradingView<\/a><\/p>\n