Solana (SOL/USD) Market Declines Consistently Beyond $30
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Solana Price Prediction – October 21
After long-term efforts to push back northwardly in the wake of a recent correction in the SOL/USD market operations, the crypto market now declines consistently beyond the $30 psychological trading line. As of writing this analytics write-up, the price trades around $27.35, a bit over the low value of $26.83 at an average percentage rate of 2.36% negative.
SOL/USD Market
Key Levels:
Resistance levels: $30, $35, $40
Support levels: $25, $20, $15
SOL/USD – Daily Chart
The daily chart showcases the crypto market declines consistently beyond the $30 logical trading spot that was hard to break down in most previous sessions. The horizontal line drawn at the $30 trading spot is to ascertain the essentiality of that value line in the current trending force outlook against the other lower one drawn at the $25 support level point. The Stochastic Oscillators have crossed southbound from the range of 40 to keep 13.51 and 0.63 range values in the oversold region.
Has there ever been a trading signal that the SOL/USD transaction is currently experiencing a rebuying order syndrome?
There hasn’t ever been a signal indicating the SOL/USD transaction is presently witnessing a rebuying order syndrome as the crypto market declines consistently beyond the $30 logical point toward a lower-trading zone of the $25 support level. At the moment, buyers need to hold back in the market for a while to observe what will be the aftermath reaction of price around the latterly mentioned value point. A bullish candlestick at any point will signify an end to getting a smooth-running motion to the downside.
On the downside of the technical analysis, the SOL/USD market sellers need to capitalize on the current decline-trending force that is currently aiming and eyeing support around the $25 level. However, it may not be a better time to increase or add new shorting orders to save from an untimely whipsawed trading condition, as it has shown that the market has almost downsized to the presumed lower-trading spot.
SOL/BTC Price Analysis
Solana’s trending capacity has suffered some momentum losses to the pushing weight of Bitcoin. The pairing crypto market declines consistently beyond the long-term lower horizontal line drawn that formerly served as the baseline around which the counter-trading crypto used to lose the stances to the upside. The 14-day SMA indicator is underneath the 50-day SMA indicator. The Stochastic Oscillators have crossed southbound into the oversold region as they maintain 10.78 and 0.00 range values. That shows the gravitational pressures to the south direction are on the verge of losing out gradually. The re-emergence of a bullish candlestick at any point from now will signify the possibility of the base crypto moving back upward against its counter-trading crypto.
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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