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The Solana price hardly shows any bullish momentum

 


While other cryptocurrencies are rising sharply, the Solana course is showing little bullish momentum. Is Solana out of breath?


Solana Price Prediction: Is the SOL Price Rising Now?

Almost two weeks ago we wrote in the last Solana price forecast : “Solana price broke the golden ratio support around USD 34 bearishly and fell to around USD 30. Once there, the SOL course could bounce off. The next significant resistance levels are waiting for Solana at around USD 35, USD 37 and USD 42. "


The Solana price has risen sharply in the last two weeks

The Solana price bounced off the support at around USD 30, but initially moved sideways for a few days. Nevertheless, the Solana price has risen sharply since the last SOL price forecast and has risen to around USD 36 . Despite this, SOL closed below the horizontal resistance at around USD 35 yesterday and has not yet reached the key resistance between USD 36.4 and USD 37. There, SOL encounters the 50-day EMA and the 0.382 Fib level.


If Solana breaks this resistance, the next significant Fib resistance is waiting for him at around USD 42. In addition, the MACD histogram has been ticking bullishly higher for several days and the MACD lines are crossed bullishly, while the RSI is neutral.


The Death Cross on the 4H chart remains intact

Despite the bullish movement of the past few days, the Death Cross remains intact on the 4H chart, confirming the trend bearish in the short-term. In addition, the histogram of the MACDs in the 4H chart is ticking bearishly lower and the MACD lines crossed bearishly.


Should Solana correct now, Solana will now find significant Fibonacci supports around $33.6 and $32.


Solana's trend clearly remains bearish

Solana's trend remains clearly bearish. The bear trend was recently confirmed with the bearish rejection at the golden ratio resistance at around USD 46. Only establishing a higher low instead of falling back to the last low at around USD 26 should be considered bullish. In addition, the histogram of the MACDs in the weekly chart has been ticking bullishly higher since last week and the MACD lines are also bullishly crossed.


Still, some resistance awaits the SOL price before Solana turns bullish again. In addition to the golden ratio at around USD 46, the 50-week EMA and the 0.382 Fib level between USD 70 and USD 71 also act as significant resistance. In addition, significant Fibonacci resistance awaits at the USD 100 mark.


In comparison, Solana is significantly more bearish than other cryptocurrencies

Solana's upside over the past three months has been relatively weak. Thus, almost three months after hitting the bottom at around USD 26, Solana is still around USD 35.


In addition, volatility has been very low this month so far. The decisive factor for the further course of Solana is whether Solana breaks the golden ratio at around USD 46 in a bullish way or the support between USD 26 and USD 30 in a bearish manner. If Solana breaks the bottom around $26, things could go very low for Solana.


Against BTC, the Solana course shows rather bullish tendencies

Against BTC, the SOL price has been moving higher since last week without Solana reaching the golden ratio support around 0.00148 BTC. The MACD histogram is ticking bullishly higher again this week after ticking bearishly lower for the past few weeks. Also, the MACD lines are bullish crossed while the RSI is neutral.


At around 0.00184 BTC, Solana finds the next significant resistance and should Solana break this, the next significant resistance awaits between 0.001987 BTC and 0.0021815 BTC.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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