|Performance after Tuesday 14-Feb|
Solana (SOLUSDT) price for the week to-date gained 0.51% or 0.11 higher to 21.60. At time of writing into Wednesday’s trading session, Solana has increased by 3.55% over the past 24 hours. For the record, SOLUSDT is -91.69% below all-time high of 259.96. On Tuesday, SOL rose 5.15% to 21.84.
On the daily timeframe, price is below 9-Day EMA and Stochastic oscillator is rising, our analysis is that the price action might be set for a rebound.
For the month-to-date, SOL is down by -9.70% or -2.32 lower.
What can we expect from Solana today?
Looking ahead for the day, immediate upside resistance level at 22.59 (R1) while on the downside, we are looking at daily low of 20.66 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 break above 22.37 would suggest bullish bias after recent positive movement.
For the week to-date, take note that Solana is rising and up by 0.51% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2023-02-12 was -8.44%.
Key levels to watch out:
Last updated: 02:20 am UTC, 15-Feb 2023