SOL Dives 7% Daily, is $15 The Next Big Target? (Solana Price Analysis)

Solana lost its key support at $20 and is now accelerating down.

Solana Price Analysis

Key Support levels: $17, $15

Key Resistance levels: $20, $23

SOL failed to maintain its price within the descending triangle, and with the support at $20 turned into resistance, it’s currently in search of support. The key levels to watch are found at $17 and $15, with the latter having the highest confidence.

Trading Volume: The sustained sell volume in the past week has pushed Solana into making lower lows.

RSI: The daily RSI is quickly approaching the oversold area at under 30 points. Hopefully, buyers will become interested again.

MACD: The daily MACD is in freefall, and there are no signs that this downtrend will end at this time.

Bias

The bias for SOL is bearish.

Short-Term Prediction for SOL Price

The most likely area where Solana can stop this selloff is found at $15. The support at $17 may provide a relief bounce, but considering this momentum, it is unlikely to hold for long.

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