Published 3 hours ago
The Solana Price Analysis Keep the coin purchase view. Cryptocurrency, the ninth largest market capitalization, has reduced 24-hour trading volume by 24% to $ 1,856,518,387. Currently, the SOL / USD pair is trading at $ 44.42, up more than 5%.
- The price of SOL is gaining momentum following the sold-out of the previous session.
- The Bulls try to get rid of multiple resistances around the $ 45 zone.
- However, daily candlesticks under $ 41.50 ignore the bullish argument.
SOL looks for upside down confirmation
The price of SOL has risen in the last three days as the Bulls have resumed activity. In the daily chart frame, the price gave a breakout from the bullish flag and pole pattern. Prices are rising high and low on the daily chart.Similarly, average volume indicates that prices may ignore bearish sentiment at this time.
In addition, buyers were able to fluctuate the price at $ 41,21, which exceeds the significant 50-day EMA. Prices will rise further, testing the psychological $ 50.0 mark and could follow the May 23 high of $ 54.65.
Indicators also support bullishness. Momentum oscillators, MACD and RSI are above average, showing signs of a continuing trend, an uptrend.
On the other hand, daily closing prices below the session lows indicate the sale of assets. Go down and support is close to $ 40.0.
The hourly chart looks bullish
On the hourly chart, the DOT price forms the opposite head and shoulder pattern. The right shoulder received good support from the 50-day moving average and support from the uptrend line.
If the price is above 44.50 on the hourly chart, you can expect bullish momentum.
Conclusion:
SOL price analysis shows bullish momentum across all timeframes. Price retracement is a good buying opportunity.
The content presented may contain the author’s personal opinion and is subject to market conditions. Do market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.
