June 27, 2022

Solana Price Analysis: SOL Revisits $130, What’s Next?

2 min read

Key Support levels: $130

Key Resistance level: $155, $170

SOL fell back to the vital assistance at $130 in the past few days, failing to maintain its rally from last week. Purchasers may be interested at existing price levels because the last time it visited this key level, bulls can be found in force and pressed SOL into a relief rally.

The resistance presently sits at $155. This level represents the most significant challenge for any possible rally.

SOLUSDT_2022-01-19_14-34-59
Chart by TradingView

Technical Indicators Trading Volume: The volume reduced as the price fell, which does not favor the bears. For that reason, purchasers might have a fantastic possibility to reverse the current cost action back into an uptrend. RSI: The RSI on the day-to-day timeframe stays bearish with lower highs and lower lows. There are no indications yet of a possible reversal. MACD: While the day-to-day MACD is on the positive side, there was barely any momentum to reflect this in terms of price, and now the moving averages are closing in for a bearish crossover. If the buyers fail to action in soon, then it is unlikely for the drop to stop.

SOLUSDT_2022-01-19_14-34-22

Chart by TradingView Predisposition The current bias is bearish. However, the bulls have an excellent shot to press SOL greater from the essential support level as sellers seem indecisive considering the volume profile.

Short-Term Prediction for SOL Price

SOL was unable to press above the crucial resistance at $155 recently, and the price suffered. Now, it is back on the crucial assistance at $130, and it’s possible for the bulls to step up as soon as there. It is most likely that SOL will be quite influenced by the market leaders in the face of BTC and ETH in its next move.