Solana continues to operate despite a decrease in purchase volume, registering a 6% increase in the last 24 hours.
Key Support Levels: $20
Key Resistance Levels: $27
The resistance at $27 is keeping the bulls in check. They have been rejected at that level on Saturday. In the process, SOL has formed an ascending triangle and a major breakout is expected in the coming days. If the bulls fail, the price can quickly drop to the $20 support.
Trade volume: Considerable buying volume has allowed Solana to stay on offense, but the momentum is fading.
RSI: The daily RSI is just below 80 points and is marking lower highs. This is bearish.
MACD: The daily MACD is still bullish, but can make a bearish cross at any time based on the histogram, which is also making lower highs.
Bias
SOL bias is neutral at this time.
Short-term prediction for the SOL price
There are some clear signs that Solana will not be able to break above the key resistance at $27. Buyers would really have to step up to do that, and current volume and indicators don’t show that.
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