- Solana has broken out of its short-term downward trend channel and has shown a strong upward response. Currently, it’s hard to say definitively which direction the future trend will take.
- The currency is moving within a rectangular formation with support at 17.93 and resistance at 30.23. A clear break of either of these levels will indicate the new direction for the currency.
- The current Solana price is $21.85, with a 24-hour trading volume of $239,890,804. Solana has decreased by 1.36% in the last 24 hours.
Solana (SOL) price manages to stay above $20: What will be the next target? Current resistance levels and SOL analysis!
Short-Term SOL Analysis
Solana has broken out of its short-term downward trend channel and has shown a strong upward response. Currently, it’s hard to say definitively which direction the future trend will take. The currency reached the target at 22.83 after breaking the inverse head and shoulders formation. The price has since fallen, but the formation indicates further upward potential. The currency has support at 20.20 points and resistance at 24.00 points. Volume peaks and troughs align well with price peaks and troughs, strengthening the currency. Solana is generally considered technically positive in the short term.
Medium-Term SOL Analysis
Solana has broken the ceiling of a medium to long-term downward trend channel. This initially indicates a slower decline rate or the beginning of a more horizontal development. The currency is moving within a rectangular formation with support at 17.93 and resistance at 30.23. A clear break of either of these levels will indicate the new direction for the currency. The currency is currently between support at 21.00 points and resistance at 26.00 points. A clear break of either of these levels will predict the new direction. The RSI curve shows an upward trend, which could be an early signal of an uptrend in price. Solana is generally considered technically neutral in the medium term.
Long-Term SOL Analysis
Solana is within a long-term, roughly horizontal trend channel, indicating further development in the same direction. The currency is moving within a rectangular formation with support at 17.93 and resistance at 29.90. A clear break of either of these levels will indicate the new direction for the currency. The currency has broken down the support at 27.00 points, indicating further declines. In case of positive responses, there will now be resistance at 27.00 points. Solana is generally considered technically slightly negative in the long term.
Solana Price
The current Solana price is $21.85, with a 24-hour trading volume of $239,890,804. Solana has decreased by 1.36% in the last 24 hours. According to the current CoinMarketCap ranking, SOL is ranked 7th with a market capitalization of $9,053,241,389. There are 414,379,031 SOL tokens in circulation.
