SOL coin as it is evident that the token has fallen by about 7% in the previous day, and investors should predict further price declines.
This is because the $45 price level has served as a significant barrier for the token for a very long time, and despite numerous tries, SOL hasn't been able to overcome it. Noting that the token has attempted to convert $40 into support but has been unsuccessful is also crucial.
If the bulls don't take action soon, the $30 price level, which serves as a crucial support for Solana coin, may be tested again.
The price of Solana at the beginning of the day's candle was $40.34, and it hit a daily high of $40.36. Additionally, the daily low for SOL was $39.14, while the current price of SOL is $39.72.
Low volume is indicated by the Solana histogram's strength and the MACD line's overlap with the signal line. The RSI indicator shows a reading near 50, indicating that bears are currently in control. Further price fall is expected as Solana's price movement is currently retesting the Bollinger Bands' middle section.
In the past day, SOL's trading volume fell by 30.45%, and the market cap also fell by 8.00%. The Solana token's market position decreased to 1.30%, and the volume to market cap ratio is at 0.07344.
KEY LEVELS :
RESISTANCE LEVEL : $40.80-$42.00
SUPPORT LEVEL : $39.00-$38.00
