|Performance after Wednesday 20-Jul|
Solana (SOLUSDT) price for the week to-date gained 7.79% or 3.01 higher to 41.63. At time of writing into Thursday’s trading session, Solana has decreased by -5.94% over the past 24 hours. For the record, SOLUSDT is -83.99% below all-time high of 259.96. On Wednesday, SOL dropped -6.31% to 42.04.
On the daily timeframe, price is above 9-Day EMA and Stochastic oscillator is falling, our analysis is that bullish momentum could be fading.
For the month-to-date, SOL is up by 23.31% or 7.87 higher.
What can we expect from Solana today?
Looking ahead for the day, immediate support level is at 40.09 (S1) with break below could see further selling pressure towards 38.13 (S2). For potential buyers, as the current momentum is falling, we prefer to look at firm break of the recent daily high of 46.30 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 41.24 would indicate selling pressure.
For the week to-date, take note that Solana is rising and up by 7.79% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2022-07-17 was 5.20%.
Key levels to watch out:
Last updated: 02:11 am UTC, 21-Jul 2022