Solana (SOL) Trades Heavy Below $90 As Breakdown Risk Grows
Solana failed to stay above $90 and corrected gains. SOL price is now trading below $85 and might find bids near the $76 zone. SOL price started a downside correction below $85 against the US Dollar. The price is now trading below $82 and the 100-hourly simple moving average. There is a bearish trend line forming with resistance at $81 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could extend losses if it dips below the $76 zone. Solana Price Starts Downside Correction Solana price failed to surpass $90 and started a downside correction, like Bitcoin and....
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Solana is tailing broader crypto market trends while battling concerns about repeated network outages and centralization. Solana (SOL) risks a significant price correction in the coming weeks owing to a classic bearish reversal setup.A 35% SOL price correction ahead?On the three-day chart, SOL's price has been painting a rising wedge, confirmed by two ascending, converging trendlines and falling trading volumes in parallel.Rising wedges typically result in breakdown, resolving after the asset's price break below the lower trendline. If the price follows the breakdown scenario, it could....
SOL price can preserve the bullish bias, however, as its two multi-month support levels converge for the first time. Solana (SOL) dropped on May 26, continuing its decline from the previous day amid a broader retreat across the crypto market.SOL price pennant breakdown underwaySOL price fell by over 13% to around $41.60, its lowest level in almost two weeks. Notably, the SOL/USD pair also broke out of what appears to be like a "bear pennant," a classic technical pattern whose occurrences typically precede additional downside moves in a market.In detail, bear pennants appear when the price....
Solana started a fresh increase from the $194 zone. SOL price is now recovering higher and faces a heavy resistance near $212. SOL price started a recovery wave after it tested the $194 zone against the US Dollar. The price is now trading above $200 and the 100-hourly simple moving average. There was a break below a connecting bullish trend line with support at $207 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $212 resistance zone. Solana Price Faces Resistance Solana price started a decent increase from the....
Solana has been caught in the crossfire as investors woke up to a bloody Monday due to hurdles in the Asian markets. The top cryptocurrencies by market cap are in the red recording moderate to heavy losses in the 24-hour chart. Solana Follows The General Sentiment In The Crypto Market At the time of writing, Solana (SOL) trades at $143,53 with a 10.9% loss in the daily chart. In the weekly chart, the cryptocurrency is amongst the worst performers on the crypto top 10 with a 17.9% loss. After Solana, Polkadot (DOT) is the closest to record similar losses for the weekly chart with 17.6%,....
Solana (SOL) traded 15.7% up and lead gains earlier as the crypto market started to see the green zone, recovering from the total cap value dropping to $2,1 trillion, now at $2,2 trillion, a 5% increase in 24 hours. As several altcoins from the top 100 savor the upswing, it’s a polarized day for Solana’s popularity as the network saw major congestion issues that might put down price expectations for 2022. A few days ago SOL saw a two-month low of around $150, but losses are in reverse in the past 24 hours. The digital coin went up as much as $188, a 15.7% daily growth.....