Solana (SOL) Analysis

  • TRENDING
  • ##bitcoin
  • #Bitcoin
  • #Cryptocurrency
  • ##cryptocurrency
  • ##boostyourknowledge
WHAT'S YOUR OPINION?

TOP BOARDERS

1.
User Image
152
Followers
2.
User Image
108
Followers
3.
User Image
97
Followers

Solana (SOL) Analysis

about 2 months ago

In addition to automated chart patterns, altFINS’ analysts conduct technical chart analyses of top 30 cryptocurrencies. We call these Curated Charts and they evaluate 5 core principals of technical analysis: Trend, Momentum, Patterns, Volume, Support and Resistance. Solana (SOL) technical analysis: Trade setup: Following a bearish breakout from Sideways Channel ($30-45), price crashed well below the $25-30 support zone, reaching $12.50 support. Now it appears oversold (RSI ~ 30) and could see at least a brief bounce up. Momentum is inflecting bullish again (MACD Histogram rising). (set a price alert). Solana was experiencing strong adoption by NFT projects, which was driving solid growth in transaction volumes. However, with its strongest backer, FTX, now insolvent, Solana may find it difficult to fund the growth of its ecosystem of project building on top of Solana. Trend: Downtrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bearish but inflecting. MACD Line is below MACD Signal Line and RSI is below 45 but momentum may have bottomed since MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing. OBV (On Balance Volume): is declining, indicating that volume on Up days is lower than volume on Down days. Hence, demand (buyers) is below supply (sellers). Support and Resistance Nearest Support Zone is $12. The nearest Resistance Zone is $25 – $30, then $45. See live Solana (SOL) chart here See more curated charts of coins with technical analyses.

  • 8 Upvote
  • Follow
  • Reply
  • Share
  • Report

Add your comment on this topic to start a conversation.

;
EPNOC