Solana lost its key support at $20 and is now accelerating lower.
Solana Price Analysis
Key Support Levels: $17, $15
Key resistance levels: $20, $23
SOL was unable to keep its price within the descending triangle, and with the $20 support turned into resistance, it is currently looking for support. Key levels to watch are $17 and $15, with the latter being the most confident.
Trade volume: Sustained selling volume in the last week has pushed Solana to make lower lows.
RSI: The daily RSI is fast approaching the oversold zone below 30 points. Hopefully, buyers will be interested again.
MACD: The daily MACD is in free fall and there are no signs that this downtrend is ending at this time.
Inclination
The bias for SOL is bearish.
Short-term prediction for the SOL price
The most likely area where Solana can stop this selloff is at $15. The support at $17 may provide a relief bounce, but considering this momentum, it is unlikely to hold for long.
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