skip to Main Content
bitcoin
Bitcoin (BTC) $ 82,111.00 0.96%
ethereum
Ethereum (ETH) $ 1,806.84 1.54%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.09 3.80%
bnb
BNB (BNB) $ 601.76 1.06%
solana
Solana (SOL) $ 125.88 0.23%
usd-coin
USDC (USDC) $ 1.00 0.00%
dogecoin
Dogecoin (DOGE) $ 0.16589 2.69%
cardano
Cardano (ADA) $ 0.656881 3.22%
tron
TRON (TRX) $ 0.232639 0.77%

Solana Price Analysis: SOL Dumps 9% Overnight, This is the Support to Watch

Key Support levels: $118, $100

Key Resistance level: $136

The price action took a sharp turn once it touched the resistance at $136, and since then, SOL was unable to reclaim this level. With this in mind, the next major support to consider is found at $118, and Solana is rapidly approaching it at the time of this writing.

SOLUSDT_2022-04-06_09-58-41
Chart by TradingView

Technical Indicators

Trading Volume: SOL had excellent buying volume during its rally, but it has since decreased, which allowed the bears to take control over the price action.

RSI: The RSI reached almost 80 points at the height of the rally, but now, it is quickly falling away from the overbought area (>70 points).

MACD: The daily MACD is bullish, but the histogram shows lower highs. This indicates a loss of momentum, and this pullback may take price back to support.

SOLUSDT_2022-04-06_09-59-01
Chart by TradingView

Bias

The current bias is neutral. It’s important to monitor how the price performs at the next support to assess future possibilities.

Short-Term Prediction for SOL Price

The bulls appear to be exhausted, and they were unable to push prices above $136. For this reason, it’s reasonable to expect the first support level to be revisited in a relatively short period.

Loading data ...
Comparison
View chart compare
View table compare
Back To Top