Solana (SOL/USD) Price Is Gathering an Upward Momentum
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Solana Price Prediction – February 3
A significant indication has surfaced in the SOL/USD market operation as the crypto-economic price is gathering an upward momentum around the $25 trading spot. The overly trading situation has produced today’s high and low-value lines of $24.54 and $24.03, keeping a percentage rate of 0.04 positive. It appears that northward-moving gravity is forming a stance around the first-mentioned point.
SOL/USD Market
Key Levels:
Resistance levels: $27.50, $30, $32.50
Support levels: $20, $17.50, $15
SOL/USD – Daily Chart
It has been showcased on the SOL/USD daily chart that the crypto market is gathering an upward momentum, as indicated by the reading outlook of the Stochastic Oscillators. The 14-day SMA indicator is at $21.97 above the $20.73 value line of the 50-day SMA indicator. The Stochastic Oscillators have shifted southbound into the oversold region to position around the 6.66 and 66.56 levels. Their consolidation-moving mode in the subsequent days could lead to lows featuring close to the trading spot of the $20 support.
Will the SOL/USD market revert to its previous range-bound zones soon?
The Stochastic Oscillators are the capacity-reading indicator of pairing instruments suggesting that there may not be reliable declines in the SOL/USD trade even if bulls fail to launch back a presence as the crypto-economic price is gathering an upward momentum as envisaged over the SMA trend lines. Buyers’ power appears to be untapped as writing this technical analytics sentiment.
On the downside of the technical analysis, a lain of confluence has surfaced around the $25 line. But, appear to lose the potential to swing further lows by the current positioning posture of the Stochastic Oscillators. Based on that assumption, bears will need to consolidate their stances to create a fearful breakout against the SMAs to hold back a downward trend.
SOL/BTC Price Analysis
Solana’s trending ability contrasting with Bitcoin has appeared, gathering an upward momentum at a higher-trading spot of the upper range line drawn in the past. The 14-day SMA indicator is close to the 50-day SMA indicator. And they are facing eastward around the upper range spot. The Stochastic Oscillators have traveled southbound into the oversold region to begin a consolidation movement. And they are at 5.35 and 4.85 levels. Expectedly, the base crypto will be holding stances in opposing any further drops that its counter crypto will intend to pose afterward at this current capacity formation.
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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