The Solana (SOL) price prediction sees a 5.21% price fall within a few hours of trading as it drops back towards $32.
Solana Prediction Statistics Data:
- Solana price now – $34
- Solana market cap – $12 billion
- Solana circulating supply – 349.1 billion
- Solana total supply – 511.6 billion
- Solana Coinmarketcap ranking – #9
SOL/USD Market
Key Levels:
Resistance levels: $55, $60, $65
Support levels: $20, $15, $10
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SOL/USD is currently declining, as the crypto trades below the 9-day and 21-day moving averages. The Solana price is holding the $34 support level, but there is a possibility of sideways movement in the nearest term. The coin is currently sliding towards the support level of $32, and it could decline towards the $30 support as the technical indicator faces the south.
Solana (SOL) May See a Further Downside; Tamadoge (TAMA) Remains Bullish
If there is an upside break above $40, the Solana price could revisit the resistance level of $45. Any further gains might push the price towards the $55, $60, and $65 resistance levels. On the downside, the $30 level is the nearest support. If there are more downsides, the price could test the critical support levels of $20, $15, and $10, where the bulls are likely to take a stand.
In the meantime, SOL/USD is yet to show some positive signs at the time of writing, but it could dip further in the short term. Having said that, the Solana price may likely remain below the 9-day and 21-day moving averages, as long as the 9-day MA crosses below the 21-day MA. However, the Relative Strength Index (14) is below the 40-level, indicating a bearish movement.
Against Bitcoin, the Solana price is now trading below the 9-day and 21-day moving averages within the channel as the bears are dominating the market. SOL/BTC is currently trading at 1650 SAT as the bulls couldn’t push the price to the north. Looking at the chart, if the price continues to drop, the next key supports may likely be at 1300 SAT and below.
However, any possible bullish movement could push the market above the 9-day and 21-day moving average, a break towards the upper boundary of the channel may enable Solana price to reach the resistance level of 2200 and above but the Relative Strength Index (14) is likely to cross below 40-level, which shows that the market might experience more downtrends.
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