Solana price enters correction territory after 80% monthly gains
SOL's bear flag setup sees its price declining to $21 by September 2022. Solana (SOL) ticked modestly lower on July 20 after testing a critical technical resistance, suggesting further pullback moves in the coming weeks.SOL price eyes 50% wipeoutSOL's price decreased by over 4% to $44 after failing to breach a multi-week ascending trendline resistance. Interestingly, this resistance level comes as a part of what appears to be a bearish continuation pattern dubbed the "bear flag."A previous test of the same resistance trendline in late June had preceded a 30%-plus price drop, illustrating a....
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The bulls have painted the market green, with most cryptocurrencies scoring impressive price gains in the last 24 hours. The ongoing market-wide rally has empowered most coins to recover their lost price gains, with Bitcoin adding over 6.57% in seven days. However, among the top coins, Solana scored the most gains, rallying over 10% in the last 24 hours. The gain places Solana (SOL) at the 10th position among top-gaining cryptocurrencies today. Solana’s current price rally comes after three consecutive days of price decline. Solana Price Action Over The Past Weeks Solana (SOL) performed....
SOL price is 87% down from its all-time high, but do improving fundamentals strengthen its investment thesis? The crypto sector is caught in a deep correction and recent reporting shows that a majority of altcoins are more than 70% down from their 2021 highs. Solana is on that list and investors are on the fence about whether the token has strong enough fundamentals to warrant buying Solana (SOL) at its current value. Data from Cointelegraph Markets Pro and TradingView shows SOL is down 87.5% from its all-time high and given the current state of the market, most price breakouts fail to....
SOL price enters overbought territory but history shows that bulls are not scared of Solana's excessive valuations. Solana (SOL) jumped past a critical resistance level that had limited its recovery attempts during the November 2021-March 2022 price correction multiple times, thus raising hopes of more upside in April.Solana flips key resistance to supportTo recap, SOL's price underwent extreme pullbacks upon testing its multi-month downward sloping trendline in recent history. For instance, the SOL/USD pair dropped by 60% two months after retracing from the said resistance level in....
A significant price rebound in the Bitcoin market last week is now at the risk of paring in the current one. The benchmark cryptocurrency has opened Monday in positive territory. As of 0516 UTC, it was trading for $11,405, up 16.27 percent from its recent bottom and down 8.62 percent from its year-to-date high. Resistance Everywhere Technically, Bitcoin’s strong upside move met an equally robust resistance at $11,500. The said level held the price from […]
Here's a look at the levels in focus for today's bitcoin price watch intraday strategy. In yesterday evening’s analysis, we focused on the relatively flat action we have seen in the bitcoin price across the last few days, and commented that this might continue as we head into the close of the week. As things have turned out, we’ve seen the opposite happen overnight. Last night, as the Asian session kicked off, the bitcoin price rose sharply in what amounts to an almost mirror image of the action seen over the weekend, and topped out just shy of 750. A correction has brought things down to....