How much is SOL worth?
Today’s Solana price is $20.91 with a 24-hour trading volume of $618,897,839. Solana is up 2.68% in the last 24 hours. It is currently ranked 9th on CoinMarketCap with a real-time market cap of $7,273,881,101. It has a circulating supply of 394,890,490 SOL coins and a maximum circulating supply of 394,890,490 SOL coins. Supply is unavailable.
Solana Price Analysis: SOL Dips Below $20.91 as Markets Fall.
TL:DR Breakdown
Solana price analysis shows bearish market sentiment
The resistance level for SOL/USD is $21.83
SOL/USD price support is $20.89
Solana price analysis shows that sentiment is bearish with the price trading around $20.91, down 2.68%. The SOL/USD pair has support at $20.89 and resistance at $21.83. If the bulls succeed in breaking this resistance, the next targets in the uptrend are $21.98 and $22.09. However, if the bears sink the price below $20.89, the next supports are $18.55 and $19.28 respectively.
The overall market sentiment indicates that Solana price is in a bearish trend and may remain so for the time being. The 24-hour trading volume has dropped by 35.58% and currently stands at $420 million. The cryptocurrency’s market cap has reached $8.41 billion in the past 24 hours and remains ranked 9th on the CoinMarketCap leaderboard.
Solana Price Analysis 1-Day Chart: Bearish momentum has dropped the SOL price to $20.91.
Solana 1-day price analysis confirms the bearish trend as the price has fallen again after a short-term recovery. The digital asset has fallen by more than 2.68% in the past 24 hours and is trading at $20.91. The market sentiment is bearish and if the bulls do not take control of the market soon, the SOL/USD pair may fall below the $20.89 support level again.
The 100 EMA has crossed below the 200 EMA, which suggests that the market is maintaining its bearish momentum. The RSI indicator shows that the price is trading near the oversold zone, currently at 61.26. The MACD on the 1-day chart is above the signal line but is slowly moving towards it, which means that the bearish pressure may increase.
SOL/USD 4-hour price chart: bearish market sentiment
The 4-hour chart shows that the SOL/USD pair has been ranging between $22.12 and $18.54 since earlier today. The current price is $20.91 and if the bears break below this level, SOL could decline in the coming hours. The selling pressure is high, which shows that the bears are in control of the market. Traders should keep an eye on the key support and resistance levels and monitor market sentiment to understand where the price may move next.
The MACD histogram is in the negative zone and reducing another bearish trend. The Relative Strength Index (RSI) indicator is currently at 47.14, which shows that the market is neither oversold nor overbought. The price has formed a bearish crossover with the 10 EMA line, which shows that the bears are in control of the market. This suggests that a recovery may occur soon if buyers take control of the market. It seems that the Solana price may remain in a bearish trend for a while.
What to expect from Solana price analysis
Solana price analysis shows a strong bearish trend with no signs of a reversal in sight. Bulls need to mount a comeback soon if they hope to push SOL/USD back above $21.83 and restore market confidence. Otherwise, we may see a break below the $20.89 support level in the coming days. With both technical indicators pointing downwards, it is clear that bears are firmly in control of the market and further price declines are expected in the near term.