|Performance after Tuesday 26-Jul|
Solana (SOLUSDT) price for the week to-date dropped -12.48% or -5.11 lower to 35.82. At time of writing into Wednesday’s trading session, Solana has decreased by -1.38% over the past 24 hours. For the record, SOLUSDT is -86.22% below all-time high of 259.96. On Tuesday, SOL dropped -1.09% to 36.25.
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 6.10% or 2.06 higher.
What can we expect from Solana today?
Looking ahead for the day, immediate support level is at 35.00 (S1) with break below could see further selling pressure towards 33.75 (S2). For potential buyers, as the current momentum is falling, we prefer to look at firm break of the recent daily high of 36.84 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 34.67 would indicate selling pressure.
For the week to-date, take note that Solana is falling as the pair posted lower, down by -12.48%. Prior performance for the week ending 2022-07-24 was 5.98%.
Key levels to watch out:
Last updated: 03:37 am UTC, 27-Jul 2022