Solana (SOL/USD) Trade Loses Values at $25
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Solana Price Prediction – April 21
Exhaustion of buying activities has eventually materialized in the SOL/USD market, letting the crypto-economic trade lose value at the $25 trading spot. The negativities have had their trading zones between $22.40 and $21.71 points at a pace of 1.98 percentage rate. If there is a long-holding condition of a declining session around or toward the point of $20, selling activities will likely push down further to a lower support spot of $17.50.
SOL/USD Market
Key Levels:
Resistance levels: $25, $27.50, $30
Support levels: $17.50, $15, $12 ,50
SOL/USD – Daily Chart
The SOL/USD daily chart showcases the crypto-economic trade lost values at the $25 level, having encountered resistance. The 14-day SMA indicator is at a close range of $22.38, trying to cross southward near above the 50-day SMA indicator, which is at the $21.62 value line. The Stochastic Oscillators have crossed southward from the overbought region to levels of 40.21 and 18.06, indicating that some gravitational force is currently acting to the downside.
Is it ideally technical for buyers to wait for a while to observe what could be the SOL/USD market behavior around $25?
The present trend denotes that buyers must wait a while before observing another round of buying moments as the SOL/USD trade loses value at the $25 point. Before resuming long positions, some prerequisites have to be met, including the appearance of a bullish trading candlestick from the lower end, helped by the Stochastic Oscillators have repositioned to point north.
The negative of technical analysis is that sellers frequently reduce the market value to $20 to reestablish the critical line that will permit the recurrence of a bounce-off situation. However, if the trading moment gets tough for bulls to reclaim their lost momentum, the price will tempt revisiting a previous low around the $17.50 support point.
SOL/BTC Price Analysis
In contrast, Solana has positioned posting to a correction, as it paired with Bitcoin below the trend line of the bigger SMA. The formation of the trading candlesticks showcases the pairing crypto trade loses value at a point close to the indicator. The 14-day SMA is underneath the 50-day SMA. The Stochastic Oscillators have crossed southbound from the overbought region to 70.55 and 60.32 levels. The base crypto may not drop farther beyond its previous baseline of around B0.000700 before reclaiming its trading stance against the counter 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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