|Performance after Tuesday 16-Aug|
Solana (SOLUSDT) price for the week to-date dropped -3.12% or -1.4 lower to 43.47. At time of writing into Wednesday’s trading session, Solana has decreased by -0.46% over the past 24 hours. For the record, SOLUSDT is -83.28% below all-time high of 259.96. On Tuesday, SOL dropped -1.46% to 43.08.
On the daily timeframe, price is below 9-Day EMA and Stochastic oscillator is falling, our analysis is that there could be selling pressure as the outlook looks bearish.
For the month-to-date, SOL is up by 2.64% or 1.12 higher.
What can we expect from Solana today?
Looking ahead for the day, we are looking at 47.24 or 44.08 (R1) as important resistance levels and daily low of 42.53 and 42.30 (S1) as key support levels. Solana need to break on either side to indicate a short-term bias. A close below 42.53 would indicate selling pressure.
For the week to-date, take note that Solana is falling as the pair posted lower, down by -3.12%. Prior performance for the week ending 2022-08-14 was 10.52%.
Key levels to watch out:
Last updated: 03:06 am UTC, 17-Aug 2022