Can it Recover or Will it Decline Further?

Solice is a virtual reality world on the Solana blockchain where users can play,create, own,socialize, and monetize from their experience doing online activities. 

Moreover, Solice works on other devices and systems, making it easier for people to join and connect with their loved ones, which will allow the number of users to grow faster. 

In Solice crypto’s world, players can get many pets, gemstones, and collectibles as NFTs, create their mini games, own assets, and build on their land plots. They can also get tokens and other valuable assets for doing quests, exploring dungeons, and by ranking high by being active and creative in the metaverse. 

In addition, the Solice metaverse is made to give people as much freedom as possible just like in real life. Users will have a say in how the metaverse is run based on a liquid democracy and real-world inspired rules, through the Solice native token.

SLC was neutral in terms of market capitalization and plummeted by 22.39% in trading volume in the last 24 hours as per CoinMarketCap, a crypto data analysis website. Its market capitalization has been $157,878.81 from the last year and its trading volume is $38,437.34. There are 43.2 Million SLC assets in circulation. 

From this data, it can be said that the market has lacked major interest as the majority of buyers and sellers seem like they are inactive, and have lost faith in the SLC crypto asset.

Can Momentum in Price Pop Out Soon for Solice Crypto?

The SLC crypto price demonstrated a sign before declining earlier, and the price sank from a vital level of around $0.015 on the chart. The Solice crypto had a big fall after it met a significant resistance level and it nosedived from the supply zone.

The Solice asset is displaying bearishness and a falling tendency as it plunges below the major 20 and 50-day EMAs. This descent, coupled with the sellers’ increasing dominance, raises the possibility that the downward trend may extend further.

Furthermore, the SLC crypto asset is displaying bearish characteristics as it shows a bearish cross and the RSI is falling smoothly by taking rejection from the 14 SMA, implying that the SLC asset is losing momentum and that it can fall to new low.

Looking at the overall price action performance on the daily chart, the SLC crypto asset has been expressing bearish behavior and has shown the likelihood to fall even lower. It performed quite poorly in the last week and month, as it plummeted by 29.10% and 67.84% respectively,  implying a stable downward momentum.

At press time, the SLC crypto is experiencing a decline of 3.54% in the last 24 hours, trading at $0.0029814. Therefore, if the SLC crypto price fails to stay above the $0.002500 level, it could decline further and could hit the all-time low.

However, if the demand for the Solice crypto price engages trading interest and buyers show activity on the chart, the crypto asset price could bounce back from the current level. The next goal for the SLC price is to reach $0.005200.

Summary

The Solice crypto had a big fall after it met the significant resistance level and it nosedived from the supply zone.

In terms of the overall price action performance on the daily chart, the SLC crypto asset has been expressing bearish behavior and has shown the probability of falling lower. It performed badly in the last week and month.

Therefore, if the SLC crypto price fails to stay above the $0.002500 level, it could decline further and it could even hit the all-time low.

Technical Levels

Support Levels: $0.002500

Resistance Levels: $0.005200

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.