Solana price decreased by -0.29% over the past 24 hours.

Solana price decreased by -0.29% over the past 24 hours.

Performance after Monday 06-Mar
Period Pct Chg Momentum
Monday -1.62% -0.34
Week to-date -1.00% -0.21
March -5.16% -1.13

SOL Analysis

Solana (SOLUSDT) price for the week to-date dropped -1.00% or -0.21 lower to 20.76. At time of writing into Tuesday’s trading session, Solana has decreased by -0.29% over the past 24 hours. For the record, SOLUSDT is -92.01% below all-time high of 259.96. On Monday, SOL dropped -1.62% to 20.63.

On the daily timeframe, price is below 9-Day EMA and Stochastic oscillator is falling but in oversold zone, our analysis is that there could be selling pressure as the outlook looks bearish.

For the month-to-date, SOL is down by -5.16% or -1.13 lower.

What can we expect from Solana today?

Looking ahead for the day, immediate support level is at 20.34 (S1) with break below could see further selling pressure towards 20.04 (S2). For potential buyers, as the current momentum is falling, we prefer to look at firm break of the recent daily high of 21.19 as an important indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. Solana need to break on either side to indicate a short-term bias. A close below 20.47 would indicate selling pressure.

For the week to-date, take note that Solana is falling as the pair posted lower, down by -1.00%. Prior performance for the week ending 2023-03-05 was -9.81%.

Key levels to watch out:

R3 21.78
R2 21.48
R1 21.06
Daily Pivot 20.76
S1 20.34
S2 20.04
S3 19.62

Last updated: 02:50 am UTC, 07-Mar 2023

Leave a Reply

Your email address will not be published. Required fields are marked *