Solana (SOL/USD) Market Is in a Slow-Moving Downtrend
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Solana Price Prediction – May 12
It has been that the Solana market is in a slow-moving downtrend, tightly extending toward completion. The negativity figures regard high and low-value lines between $20.29 and $19.84 with a negative percentage rate of 1.04. According to the signal indication, buyers should be ready for upward swings shortly.
SOL/USD Market
Resistance levels: $24, $25, $26
Support levels: $17, $16, $15
SOL/USD – Daily Chart
The SOL/USD daily chart showcases the crypto-economic market is in a slow-moving downtrend around a crucial trading support line where the upper horizontal line is. The 14-day SMA trend line has been alongside the 50-day SMA trend line, tightly around $20. The Stochastic Oscillators have dipped into the oversold region, keeping the same level at 4.12. Sellers are to be wary of further pushes.
Will there be more stable free falls against the SOL/USD market from the $20 support line?
Indications have been compiling a catalyst against seeing more stable free falls around the $20 support line as the SOL/USD market is in a slow-moving downtrend. Long-awaited price debasement to the value line has been in anticipation of allowing a bounce or rally to the stage. It is technically necessary for buying orders to retard several declining attempts that could be forthcoming.
On the downside of the technical analytics write-up, shorting further sell orders around the present trading line of $20 lacks the capacity-setting to build more sustainable lows as the Stochastic Oscillators have reached a maximal lower point. Before the price is in a clear direction, it could take some time for the two market movers to work their magic.
SOL/BTC Price Analysis
Contrasting the Solana trade operation, pushing power is in a slow-moving downtrend with Bitcoin. In the meantime, the former cryptocurrency is seemingly making a feeble attempt against its latter trading instrument around the smaller SMA trend line. The 14-day SMA indicator is beneath the 50-day SMA indicator. The Stochastic Oscillators have shifted southbound to touch the 20 levels before briefly crossing northbound at 23.27 and 3165 levels.
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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