The Solana (SOL) price prediction heads to the downside as the dip is likely to get worsen because of a recent decline in the crypto world.
Solana Prediction Statistics Data:
Solana price now – $32.15
Solana market cap – $11.4 billion
Solana circulating supply – 354.1 million
Solana total supply – 511.6 million
Solana Coinmarketcap ranking – #9
Resistance levels: $40, $45, $50
Support levels: $25, $20, $15
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SOL/USD may not be able to follow the bullish movement as the coin remains below the 9-day and 21-day moving averages. The Solana price is currently trading at $32.15, sliding from the high of $33.99 to face the lower boundary of the channel at the time of writing.
Solana May Head to the Downside, Buy Tamadoge and Hold
Looking at the daily chart, the Solana price is moving sideways, any bearish movement towards the lower boundary of the channel may increase the short-term selling pressure while the critical supports may come around $25, $20, and $15. Meanwhile, any bullish movement above the 9-day and 21-day moving averages may reach the next resistance levels at $40, $45, and $50.
However, the technical indicator could start a new bearish session as the Relative Strength Index (14) moves below the 50-level. It is, however, not clear how long the session will last because, in the last few weeks, both bullish and bearish sessions have been frequent. Therefore, it is important to watch the resistance and support levels coupled with the movement of other indicators within the daily chart.
Against Bitcoin, the market price is ranging as the coin trades at 1647 SAT around the 9-day and 21-day moving averages. Looking at the daily chart, if the coin can make a positive towards the upper boundary of the channel, the bulls may push the price to the upside.
SOLBTC – Daily Chart
However, if the market drops below the moving averages, the next key support may come at 1500 SAT and below. On the bullish side, a possible rise may keep the market above the moving averages to hit the resistance level of 1850 SAT and above. As revealed by the technical indicator, the Relative Strength Index (14) may begin to follow the downward movement as the signal line moves to cross below the 50-level.
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