Market volatility has returned somewhat, but the question remains whether SOL can progress into the next major area.
Key Support Level: $27
Key Resistance Level: $44
Solana is still stuck in a large price range and unable to break away. As volatility increases, the price may break out and enter a clear trendline. Major support is found at $27 and resistance at $44, while the price lies right in the middle of this range at the time of this post.
trading volume: The volume has increased since the beginning of this week. This caused significant volatility but not enough to take the SOL to key levels in this range.
RSI: Daily RSI remains below 50 mark, and buyers will have to show more strength if they want to push the price higher.
MACD: Daily MACD is on the bullish side but no momentum as the price is trapped in a flat trend. Until this change happens, SOL will likely continue to go sideways.
The short-term bias for SOL is neutral.
Short term prediction for SOL price
The current volatility could draw more attention to Solana, and it could propel the price to one of the key levels in this range. At this point the bias is neutral, thus, no clear trend can be identified. Detachment from this channel will change this bias.
PrimeXBT Special Offer: Use this link to register and enter code POTATO50 to get up to $7,000 on your deposit.
Disclaimer: The information found on Cryptopotato is that of the cited authors. It does not represent the opinion of Cryptopotato whether to buy, sell or hold any investment. You are advised to do your own research before taking any investment decision. Use the information provided at your own risk. See disclaimer for more details.
Cryptocurrency charts by TradingView.