- 1 Solana price prediction indicates the fall of SOL crypto over the daily time frame chart.
- 2 SOL crypto is trying to remain above the 20, 50, 100, and 200-day daily time frame chart.
- 3 Solana cryptocurrency managed to gain around 123.38% year-to-date.
Solana price prediction suggests that SOL cryptocurrency could make a rebound from its current level to initiate a recovery phase. However, SOL crypto has undergone a turbulent journey on the daily chart. To move towards an upward recovery, it’s crucial to accumulate more buyers. Currently, SOL crypto appears to be in a consolidation phase, and its future direction may depend on whether it slips further or experiences a rebound as it approaches a support zone.
In the world of cryptocurrencies, people are curious if SOL, a type of digital money, will bounce back in value. To make this happen, more people need to want to buy SOL, especially as it gets close to an important point where it might get stronger.
Right now, SOL is sort of taking a break, but in the world of cryptocurrencies, things can change very quickly. The amount of SOL being traded can suddenly increase, just like how a quiet place can become noisy. SOL has done really well this year, even when things were tough, and people who like cryptocurrencies find this very interesting. The journey of SOL is something a lot of people are watching closely.
Solana’s price was at $22.3507 and lost 3.83% of its market capitalization during the day’s trading session. However, trading volume has increased by 43.35% during the intraday trading session. This demonstrates that buyers are still present in the trade to push SOL upwards. The volume-to-market cap ratio was at 3.06%.
Is Solana Ready For a Rebound?
Source: SOL/USD by TradingView
Solana’s price has been on a decline from its upper price range, and it’s now critical for SOL to maintain its position as it nears a support zone. However, the current volume is below average, indicating a need for growth during intraday trading. At the same time, SOL cryptocurrency is striving to stay above the 20, 50, 100, and 200-day daily time frame chart, suggesting potential support levels.
Solana cryptocurrency has experienced a 6.82% decline over the past week but achieved a 14.11% gain within the last month. Over the last three months, SOL crypto has seen a rise of 4.59%, but it has slipped by 4.25% in the last six months. Despite these fluctuations, Solana crypto has displayed significant growth, with a remarkable surge of 123.38% year-to-date.
Technical indicators suggest the downside trend of SOL crypto. The relative strength index shows the fall of SOL crypto prices. RSI was at 56 and is heading towards neutrality. Investors in Solana cryptocurrency need to wait for any directional change over the daily time frame chart.
Summary
Solana price prediction suggests that SOL cryptocurrency could make a rebound from its current level to initiate a recovery phase. However, the current volume is below average, indicating a need for growth during intraday trading. Despite these fluctuations, Solana crypto has displayed significant growth, with a remarkable surge of 123.38% year-to-date. Technical indicators suggest the downside trend of SOL crypto.
Technical Levels
Support Levels: $21.7525 and $20.4196
Resistance Levels: $24.6799 and $25.9813
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
