Solana price analysis confirms an increasing trend for the day as the green candlestick has returned on the price chart once again. Although a downtrend was at its peak in the earlier days, today’s trend has been relatively in favor of the buyers. The green candlestick is marking an upward price movement as the price has once again reached the $14.68 peak.
The SOL/USD price has gained about 10.30% within the last 24 hours and the market cap is sitting at $5,173,436,376, and the 24 -the hour volume is at $828,927,952. Strong support for SOL is present at $12.97 as the buyers are able to push back against any bearish pressure and keep the price from falling below this level. As for resistance levels, the nearest one can be found at $14.85 where selling pressure is strong
SOL/USD 1-day price chart: Price draws above $14.68 after bullish input
The one-day Solana price analysis is showing support for the bulls today as a substantial amount of rising in SOL/USD value is being observed. This is an encouraging sign for the buyers as the cryptocurrency faced significant damage in the last five hours. The price is now retouching the $14.68 mark, and it can be predicted that a further uptrend is coming ahead. The moving average (MA) value in the one-day price chart is $13.28.
The volatility is increasing tremendously, indicating that future trends might be on the bearish side. If we talk about the Bollinger Bands Indicator, its upper band is standing at $14.85, while its lower band is at $12.97. The Relative Strength Index (RSI) score has increased up to 30.11 because of the recent upturn.
Solana price analysis: The price curve ascends to $14.24 after a recent uprise
The four hours Solana price analysis is dictating an increasing trend as the cryptocurrency value significantly improved in the last few hours. The short-term trending line is now moving upward because of the constant rise in SOL/USD value. The price has reached $14.68 as the bullish momentum has been intensifying for the past four hours. The moving average is still lower than the current price, i.e., $14.11.
The Bollinger bands average is now standing at the $15.36 marker. The upper Bollinger band has now reached the $27.69 position, and the lower Bollinger band has reached the $10.55 point. The RSI curve shows an ascending movement as well, and the score has moved up to 58.72.
Solana price analysis conclusion
The one-day and four hours Solana price analysis is predicting a bullish trend for the day as a significant amount of rising in coin value is being recorded. The bulls are trying to make their way to lead, and the price has improved up to $14.68 today. The hourly price prediction is also displaying quite favorable results for the bulls. The price has been continually rising for the past few hours because of the bullish efforts.
Source: https://www.cryptopolitan.com/solana-price-analysis-2022-11-24/