SOL/USD price prediction as it struggles to hold above $20

SOL/USD price prediction as it struggles to hold above $20
фото показано с : coinjournal.net

2023-3-30 18:13

Solana builds energy to break above stiff resistance Bullish flag pattern points to $40 Conservative traders should wait for the market to move first

Solana is a blockchain rivaling Ethereum, and it is moving in a relatively tight range against the US dollar. Like many other cryptocurrencies, Solana bottomed late last year, and then it rallied with the crypto market.

But in the past several weeks, the price action stalled. Lately, it has a hard time holding above $20, as sellers appear on any bounce.

So what does the technical picture show?

SOLUSD chart by TradingView

Bullish bias persists despite recent consolidation

During the 2022 bear market, the market formed a descending triangle with a horizontal base in an area between $25 and $30. The support was eventually broken as the price dived below $10, but buyers emerged as Bitcoin and other leading cryptocurrencies rallied hard in early 2023.

After rallying with the entire market, Solana met resistance in the previous support area. It is now trying to clear it, and forms what appears to be a bullish flag pattern.

Bullish flags are continuation patterns. Their measured move equals the distance from the recent low to the start of the flag, projected from the flag’s upper trendline.

It points to a move above $40, but bulls should not rush into going long just yet. Ideally, bulls should wait for the market to close above the resistance area, as it would mean that the bullish flag pattern ended. Then, it makes sense to stay long for the $40 level with a stop at $24.

The post SOL/USD price prediction as it struggles to hold above $20 appeared first on CoinJournal.

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Solana (SOL) на Currencies.ru

$ 241.65 (-0.34%)
Объем 24H $7.362b
Изменеия 24h: 2.29 %, 7d: 12.06 %
Cегодня L: $231.25 - H: $243.22
Капитализация $114.686b Rank 4
Цена в час новости $ 20.89 (1056.77%)

above solana blockchain move market wait dollar

Источник: coinjournal.net

above solana → Результатов: 89


Solana Price Analysis & Prediction (Mar 8th) – SOL Plunges to Support, Will Price Make or Break This Lower Range?

Solana remained in a range bound following a temporal hold above two-week support. The price is still within the bulls’ radar. A sharp nosedive at this support should trigger a big down surge. By market cap, the 11th best-performing cryptocurrency seems to have found support above the $20 mark after experiencing a consistent fallout for […]

2023-3-13 10:08


TA: Solana Struggles To Break Key Resistance After $5M Hack

Solana (SOL) struggles to break key resistance after it suffers a huge loss on a hot wallet hack, losing over $5M creating so much panic in the heart of many faithful.   The price of SOL looked strong in the early part of the week, trading above $40, trying to break the resistance before having an attack on some wallets drained more than $8 million from Solana users.

2022-8-4 17:00


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