SOL Crashes 7% Weekly, is $27 Coming? (Solana Price Analysis)

Solana has lost its bullish momentum, and is now looking for support below the ascending triangle.

Key Support levels: $27

Key Resistance Levels $44

Solana didn’t rally over the weekend and bears used this to push it to $33. The cryptocurrency fell below the ascending triangle. SOL could be a good support level at $27 if the price continues to fall. The resistance level is at $44.

Chart by TradingView

Technical Indicators

Trading Volume: Today’s trading volume was lower than it was over the weekend. The bears are still in control.

RSI: The daily RSI was below 50 points. This puts Solana in a bearish zone.

MACD: MACD’s daily MACD is rapidly losing its bullish momentum. SOL may reverse its current downtrend if buyers are able to stop it at the current levels.

Chart by TradingView

Bias

SOL’s short-term bias is bearish.

SOL Price Predictions for the Short-Term

A bearish signal is the current collapse of the ascending triangle. Despite sellers not wanting to push prices lower, volume has declined since the breakdown. If this continues buyers might take over price action and bring SOL back to the uptrend.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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