- Solana price prediction suggests that the SOL crypto has been consolidating over the daily time frame chart.
- SOL crypto is consolidating above 20, 50 and 100-days Daily Moving Average while trying for 200-days DMA.
- The pair of SOL/BTC is at 0.001053 BTC with an intraday gain of 1.01%.
Solana price prediction suggests the token’s consolidation phase over the daily time frame chart. However, declining volume showcases the declining trading interest of buyers and sellers. SOL crypto needs to accumulate buyers in order to escape the current consolidation phase over the daily time frame chart.
Solana price was at $24.5 and has dropped 0.53% of its market capitalization during the day’s trading session. Trading volume has decreased by 38% during the intraday trading session. This demonstrates that sellers b are trying to short the market for Solana crypto. Volume to market ratio is at 0.05771.
Solana price prediction showcases the sideways momentum of SOL crypto over the daily time frame chart. However, declining volume change below average indicates the decreasing interest of traders in SOL crypto. Solana price needs to attract more buyers during the intraday trading session to soar over the daily chart. For the time being, SOL crypto is consolidating above 20, 50 and 100-days Daily Moving Average while trying for 200-days DMA.
Will Solana Price Recover Itself?
Solana price prediction suggests the token’s consolidation phase over the daily time frame chart. Technical indicators suggest the consolidation phase of Solana coin price.
Relative Strength Index showcases the sideways momentum of SOL crypto. RSI is at 60 and is hovering below overbought territory. MACD exhibits the downtrend momentum of SOL crypto. The MACD line descending below the signal line after a negative crossover. Investors in SOL cryptocurrency need to wait until the token recovers over the daily chart.
Summary
Solana price prediction suggests the token’s consolidation phase over the daily time frame chart. However, declining volume showcases the declining trading interest of buyers and sellers. However, declining volume change below average indicates the decreasing interest of traders in SOL crypto. Solana price needs to attract more buyers during the intraday trading session to soar over the daily chart. Technical indicators suggest the consolidation phase of Solana coin price. The MACD line descending below the signal line after a negative crossover. Investors in SOL cryptocurrency need to wait until the token recovers over the daily chart.
Technical Levels
Support Levels: $22.80 and $20.00
Resistance Levels: $26.00 and $30.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/02/04/solana-price-prediction-when-will-sol-crypto-escape-this-consolidation/