E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
  • Need Help?

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

What Closing Costs Do Home Buyers Have?

February 25, 2023

What Is Realtek HD Audio Manager

February 2, 2023

A Basic Guide To Cell Tower Leasing

February 2, 2023
Facebook Twitter Instagram
E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
  • Need Help?
Facebook Twitter Instagram
E Amazings
You are at:Home»Crypto»Solana Drops Towards $40, Here’s The Next Major Support (SOL Price Analysis)
Crypto

Solana Drops Towards $40, Here’s The Next Major Support (SOL Price Analysis)

By August 2, 2022No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter Pinterest WhatsApp Email

[ad_1]

Solana had a good attempt at escaping from its ascending triangle but failed. Now the price is approaching the key support.

Key Support levels: $35, $27

Key Resistance levels: $44, $59

Solana was quickly pushed back by the sellers as soon as its price tried to move above the key resistance at $44. The price is now falling towards the key support at $35. If the cryptocurrency drops below the ascending triangle, then the bullish momentum will be compromised, and the correction could become more severe.

Since the price is approaching the apex of this formation, there is not much room left for the price to move until a clear break happens.

SOLUSDT_2022-08-02_16-19-21
Chart by TradingView

Technical Indicators

Trading Volume: The volume is in red but falling. Sellers appear to be losing interest as the price moved lower.

RSI: The daily RSI made a lower high, and if it also makes a lower low, then we could witness a change in the overall trend.

MACD: The daily MACD is dangerously close to a bearish cross. If this happens, then the price is likely to fall back on the support and lose its uptrend.

SOLUSDT_2022-08-02_16-19-05
Chart by TradingView

Bias

The short-term bias for SOL is bearish.

Short-Term Prediction for SOL Price

SOL’s price is quickly approaching a critical level. If buyers cannot stop the downtrend at $38, then the price will lose its bullish momentum and enter a more significant correction. The key supports are found at $34 and $27. Expect more volatility as the week progresses.

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

[ad_2]

Source link

Related Posts

Report With an Eye on Mutual Settlements with China, Russia To Launch CBDC Early Next Year: Report

By September 28, 2022

China Cracks Down a $5.6 Billion Crypto Money-Laundering Scheme (Report)

By September 28, 2022

Binance Launches Training Program For Law Enforcement Agencies

By September 28, 2022

FTX US President Brett Harrison Steps Down

By September 27, 2022
Add A Comment

Comments are closed.

Our Picks

What Closing Costs Do Home Buyers Have?

By Corbin BowenFebruary 25, 2023

What Is Realtek HD Audio Manager

By Corbin BowenFebruary 2, 2023

A Basic Guide To Cell Tower Leasing

By Corbin BowenFebruary 2, 2023
Recent Posts
  • What Closing Costs Do Home Buyers Have? February 25, 2023
  • What Is Realtek HD Audio Manager February 2, 2023
  • A Basic Guide To Cell Tower Leasing February 2, 2023
  • Air Duct Repair 101: Everything You Need To Know February 2, 2023
  • Advantage LIC? How Budget Insurance Amendment Bill may benefit the PSU insurance giant January 5, 2023
  • The Flight Of The Dremel January 5, 2023
  • LIC offering multiple benefits on premium payment with co-branded credit cards with Axis Bank: Check features, offer January 5, 2023
Archives
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • September 2021
Facebook Twitter Instagram Pinterest TikTok
© 2022 E Amazings - All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.