|Performance after Wednesday 28-Dec|
Solana (SOLUSDT) price for the week to-date dropped -14.85% or -1.69 lower to 9.69. At time of writing into Thursday’s trading session, Solana has decreased by -11.43% over the past 24 hours. For the record, SOLUSDT is -96.27% below all-time high of 259.96. On Wednesday, SOL dropped -11.99% to 9.76.
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 -31.57% or -4.47 lower.
What can we expect from Solana today?
Looking ahead for the day, immediate upside resistance level at 10.79 (R1) while on the downside, we are looking at daily low of 9.39 as an important support. Break below this level could weaken the current bullish momentum.
Solana need to break on either side to indicate a short-term bias. A close below 9.39 would indicate selling pressure.
For the week to-date, take note that Solana is rising and up by -14.85% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2022-12-25 was -8.08%.
Key levels to watch out:
Last updated: 01:39 am UTC, 29-Dec 2022