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Solana Up 6% Daily, Here is Key Resistance (SOL Price Analysis)
Solana continues to perform despite a decline in buying volume, recording a 6% increase in the last 24 hours. Key Support Levels: $20 Key Resistance Levels: $27 Resistance at $27 is keeping the bulls at bay. They were rejected at this level on Saturday. In the process, SOL has formed an ascending triangle and a major breakout is expected in the coming days. If the bulls fail, the price can quickly fall to the $20 support. Chart from TradingView Trading Volume: Significant buying volume has allowed Solana to remain on the offensive, but momentum is fading. RSI: The daily RSI...
Solana Up 6% Daily, Here is Key Resistance (SOL Price Analysis)
Solana continues to perform despite a decline in buying volume, recording a 6% increase in the last 24 hours.
Key Support Levels: $20
Key Resistance Levels: $27
Resistance at $27 is keeping the bulls at bay. They were rejected at this level on Saturday. In the process, SOL has formed an ascending triangle and a major breakout is expected in the coming days. If the bulls fail, the price can quickly fall to the $20 support.
Chart from TradingView
Trading volume:The significant buying volume has allowed Solana to remain on the offensive, but momentum is fading.
RSI: The daily RSI is just below 80 points and making lower highs. This is bearish.
MACD: Daily MACD is still bullish but may make a bearish cross at any time based on the histogram which is also forming lower highs.
Chart from TradingView
Bias
The bias for SOL is neutral at this point.
Short term prediction for SOL price
There are some clear signs that Solana may not be able to clear key resistance at $27. Buyers would really have to do something to make that happen, and the current volume and indicators don't show it.
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