Solana is Predicted to Drop to $18.42 By Jul 12, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Solana is up 3.99% today against the US Dollar
• SOL/BTC increased by 5.47% today
• SOL/ETH increased by 7.36% today
• Solana is currently trading 10.64% above our prediction on Jul 12, 2023
• Solana dropped -0.60% in the last month and is down -45.00% since 1 year ago

SOL price is expected to drop by -9.62% in the next 5 days according to our Solana price prediction

Solana price today is trading at $ 20.38 after gaining 3.99% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 2.31% in the same time period. SOL performed well against BTC today and recorded a 5.47% gain against the world’s largest cryptocurrency.

According to our Solana price prediction, SOL is expected to reach a price of $ 18.42 by Jul 12, 2023. This would represent a -9.62% price decrease for SOL in the next 5 days.

SOL Price Prediction Chart

Buy/Sell Solana

What has been going on with Solana in the last 30 days

Solana has been displaying a negative trend recently, as the coin lost -0.60% in the last 30-days. The medium-term trend for Solana has been bearish, with SOL dropping by -0.57% in the last 3 months. The long-term picture for Solana has been negative, as SOL is currently displaying a -45.00% 1-year price change. On this day last year, SOL was trading at $ 37.05.

Solana reached its all-time high price on Nov 06, 2021, when the price of SOL peaked at $ 259.52. The current SOL cycle high is $ 27.16, while the cycle low is at $ 8.12. SOL has been displaying low volatility recently – the 1-month volatility of the coin is at 9.25. Solana recorded 19 green days in the last 30 days.

Solana technical analysis for today – Jul 07, 2023

The sentiment in the Solana markets is currently Neutral, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 18.93, $ 17.96 and $ 16.94, while $ 20.93, $ 21.95 and $ 22.92 are the key resistance levels.

Neutral sentiment for Solana

18 indicators are currently signaling a bullish prediction for Solana, while 9 indicators are showing a bearish forecast. With 67% of indicators favoring a positive prediction. This results in an overall Neutral sentiment for Solana.

Crypto market is currently experiencing Greed

Currently, the Fear & Greed index is at 55 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Solana moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Solana is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Solana is at 76.99, suggesting that SOL is currently overbought.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Solana over the last 50 days. Currently, Solana is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the SOL closing price for the last 200 days. SOL is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this Solana prediction

After considering the above factors, we can conclude that the current forecast for Solana price prediction is Neutral. SOL would have to decrease by -9.62% to hit our $ 18.42 target within the next five days. Moving forward, it will be important to monitor the SOL market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Solana price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.