Solana (SOL/USD) Market to Decline Below $20, Holding a Pause
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Solana Price Prediction – June 23
The Solana market operation is set to decline below $20 against the US Dollar, holding a pause session around the trade zone of $16.
The transaction process between purchasing and selling activities is positioned at $17 and $16.18 value lines at 2.04 percentage rate positives. The gravitational impulse to the downside may risk heading toward the support line of approximately $15 to bottom out toward the $10 support line.
SOL/USD Market
Key Levels:.
Resistance levels: $20, $23, $26
Support levels: $15, $12.50, $10
SOL/USD – Daily Chart
The SOL/USD daily chart showcases that the crypto-economic market is set to decline below $20, holding a pause session.
The 14-day SMA indicator is at $17.48, underneath the $19.74 value line of the 50-day SMA indicator. Variant trade candlesticks are displayed between the two horizontal lines marked at $20 and $10 points. The Stochastic Oscillators have moved into the overbought region, assuming positions from 92.01 to 93.19 points to suggest that a line of time passing will occur before pulling in a northward direction against resistances above $17.
What way is the SOL/USD price attempting to move next from its present trading point of the 14-day SMA?
At the moment of this technical piece, the SOL/USD trade has exhausted energy to beef up further away from the trend line of the smaller SMA, given that the crypto-economic market is set to decline at $20, holding a pause moment.
According to the technical analysis describing an assumption concerning the upward trend, long-position placers have to be wary of opening a position because there has been an emergence of a smaller bearish candlestick precisely underneath the trend line of the 14-day SMA. With the positioning posture of the Stochastic Oscillators, purchasers may be exposed to a retracement path in a lighter mood subsequently.
On the downward trending motion of the SOL/USD trade, the present outlook appears to garner a convergence of smaller lengths below the resistance of $20, utilizing the spot of the smaller SMA for a takeoff to the south side. Sellers are required to back their shorting entrance with a price action to avoid unnecessary execution of orders.
SOL/BTC Price Analysis
Contrasting the pushing ability of Solana with Bitcoin, the former trading instrument is set under a decline toward the lower horizontal line, holding a slow and steady motion toward its accomplishment.
The 14-day SMA indicator has bent slightly southward underneath the 50-day SMA signal. The Stochastic Oscillators have crossed southbound from 40 to 35.39 and 27.22 points, signaling that a degree of downs might still be held provided that no room is allowed for a trade candlestick that will signal a rising resume sign in the process.
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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