Solana (SOL/USD) Price Maintains Flat Lower Moves
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Solana Price Prediction – May 19
There has been a general re-occurrence of unpalatable pushes between the SOL/USD market buyers and sellers as the crypto-economic price maintains a flat lower and moves closely over the $20 line. The operations have over several hours staged between $20.59 and $20.23 at a minute average percentage rate of 0.39. The entire technical trading perspective envisioned from all those analytical discussions suggests that there won’t be much change in the trading outlook after a few days.
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 price maintains flat lower moves, seemingly trying to bottom the threshold of a base-trading trait around the $20 level. The 14-day SMA trend line has conjoined with the 50-day SMA trend line around $21.54 and $21.34 values affirming the flat trading situation. Initially, the Stochastic Oscillators traversed upwardly from the oversold area to the 40. However, they have now marginally crossed over to 34.87 and 33.18 in the south.
Are there any remaining chances for the SOL/USD market activities to trend down and below $20?
Both the two trader pushers in the SOL/USD market operations lack a definite chance of nudging into a well-defined direction off from the $20 line, as it has been that the crypto-economic price maintains flat lower moves. Based on that assumption, buying activities have to suspend. But, those longing positions opened in the previous beneath the point in question could allow running overly.
On the downside of the technical analytics write-up, bears are prone to losing significantly if a volatility trading cycle surfaces shortly around the $20 line. While the market continues to move steadily low from the zone to the downside, sellers may see a more stable push down.
SOL/BTC Price Analysis
Contrasting Solana’s forces with Bitcoin, the former trading instrument tentatively retain a weak high line as it maintains flat lower moves around the smaller SMA trend line. The 14-day SMA indicator is underneath the 50-day SMA indicator. The Stochastic Oscillators are positioned southbound from the overbought region to 55.31 and 46.95 levels, posting a mere signal of returning for a close back to the up. That doesn’t seem to produce a much higher rate of gravitational force through imaginable overhead-trading barrier lines in the subsequent sessions.
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