Solana price decreased by -4.61% over the past 24 hours.

SOLUSDT Chart by TradingView

Performance after Monday 15-Aug
Period	Pct	Chg	Momentum
Monday	-2.56%	-1.15
Week to-date	-2.70%	-1.21
August	3.09%	1.31

SOL Analysis

Solana (SOLUSDT) price for the week to-date dropped -2.70% or -1.21 lower to 43.66. At time of writing into Tuesday’s trading session, Solana has decreased by -4.61% over the past 24 hours. For the record, SOLUSDT is -83.21% below all-time high of 259.96. On Monday, SOL dropped -2.56% to 43.72.

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 3.09% or 1.31 higher.

What can we expect from Solana today?

Looking ahead for the day, immediate support level is at 41.90 (S1) with break below could see further selling pressure towards 40.08 (S2). For potential buyers, as the current momentum is falling, we prefer to look at firm break of the recent daily high of 47.24 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 42.75 would indicate selling pressure.

For the week to-date, take note that Solana is falling as the pair posted lower, down by -2.70%. Prior performance for the week ending 2022-08-14 was 10.52%.

Key levels to watch out:

Last updated: 03:06 am UTC, 16-Aug 2022