SOL/USD Slide to Lower Support

Solana continues to slide lower after testing strong support below $16. However, in recent times it appears this market has resumed its downward path. Will price action continue its downward path let’s try to deduce that.

Solana Analysis Statistics Data:
SOL’s value now: $18.00
Solana’s market cap: $4.61 billion
SOL’s moving supply: 362.66 million
Solana’s Total Supply: 534.06 million
Solana’s Coinmarketcap ranking: #15

Major Price Levels:
Top Levels: $18.00, $18.50, $19.50
Bottom Levels: $17.50, $17.00, $16.50

Solana Price Prediction Today November 21, 2022: SOL/USD Is Attempting an Upward Retracement

SOL/USD price has been under the control of the bears for a significant length of time. Consequently, this has seen the crypto trading under $16. Nevertheless, Solana has witnessed some moderate recovery, but all too soon downward pressure has started shaking off those profits. This can be seen as two consecutive red candles formed for the last two sessions. Nevertheless, the recent awakening of the bears hasn’t been able to withdraw all of those profits. Consequently, this has caused RSI curves to maintain their upside direction. Most Interestingly, the latest two price candles are now testing the floor of the Bollinger band, which may result in an additional upside bounce. Subsequently, this may see SOL/USD price recovering above the $20 price level.

Solana Price Prediction Today November 19, 2022: SOL/BTC Market Breaks Down 0.0011254 Support

Coming to the SOL/BTC, downward forces have caused more serious setbacks to price movements. Price action has broken downward far below the 100% Fibonacci retracement level. It appears as if the poor performance of Solana against the dollar has combined with a headwind to push back at price action here. The last price candle here is bullish. Also, the RSI indicator lines have managed to deliver an upward crossover in the oversold area. However, it is still too early to anticipate too much going by the signs in this market. More patience is needed on the part of the traders to see if the perceived price increase will develop significantly. Therefore, traders can position a buy order at the 0.0008250 price level. This will ensure catching any brewing trend early enough.

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