Solana price decreased by -7.58% over the past 24 hours.

SOLUSDT Chart by TradingView

Performance after Thursday 09-Mar
Period	Pct	Chg	Momentum
Thursday	-5.87%	-1.08
Week to-date	-17.98%	-3.77
March	-21.43%	-4.69

SOL Analysis

Solana (SOLUSDT) price for the week to-date dropped -17.98% or -3.77 lower to 17.20. At time of writing into Friday’s trading session, Solana has decreased by -7.58% over the past 24 hours. For the record, SOLUSDT is -93.38% below all-time high of 259.96. On Thursday, SOL dropped -5.87% to 17.33.

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 -21.43% or -4.69 lower.

What can we expect from Solana today?

Looking ahead for the day, immediate support level is at 16.42 (S1) with break below could see further selling pressure towards 15.51 (S2). For potential buyers, as the current momentum is falling, we prefer to look at firm break of the recent daily high of 18.78 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 16.69 would indicate selling pressure.

For the week to-date, take note that Solana is falling as the pair posted lower, down by -17.98%. Prior performance for the week ending 2023-03-05 was -9.81%.

Key levels to watch out:

Last updated: 02:35 am UTC, 10-Mar 2023