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- SOL is trading near the bullish zone.
- It is currently trading at $20.3 with an intraday rise of 5.71%.
- The token is down by 92.2% from it’s all-time high.
The price range of $20.4 is considered to be in the bullish zone from where the price can get bullish and from there we can easily target $27.72 and the next target can be $34, If we break above the resistance level of $27.72.
The token marked its all-time high on 7th Nov 2021 where the token was priced at $260.06.
It is presently trading with an increase in the trading volume by 92% in the last 24 hours.
- The current circulating supply of the token is 411.355M SOL which is 73.75% of its total supply.
- The market capitalization of the token is $8.35B.
- It has a 24-hour trading volume of $306.27M.
SENTIMENT ANALYSIS ( DAILY ) :
The total market volume of the token has increased by 129% which shows the bullish investors are currently active in the market. The total social engagements have a huge rise of 3.17M which states that the social community is presently very active towards the market of the token, the total bullish sentiment count has reached 4.90K.
The total bearish sentiments also have a count of 242 which is very low as compared to the bullish sentiments. The bullish move is more likely to happen if the market goes well.
The present token sentiments are indicating a positive side and the rise in the price range of the token can be expected as the volume is increasing rapidly.
TECHNICAL ANALYSIS ( DAILY – 1D )
The price is currently moving very near to the bullish zone of $20.4 from where the price will be bullish. The price is likely to break the resistance of $20.42 and then the price will shoot up. The bullish move can roughly give us the returns of 35%.
The token has recorded a growth of 20% in the last 3 months and about 12% in the last 1 week. It is currently trading near the resistance of $20.42 and if the price gets rejected from the resistance then we can fall to the $18.9 support and after that the next support is at $13.
The price above the $22 range will also cross above the 200 day EMA which will confirm the bullish move for the price of the token.
Relative Strength Index ( RSI )
The RSI is currently moving at 53.51 points and the SMA 14 is moving at 40.72 points. The RSI is above the neutral level 50 which indicates there is ongoing buying activity in the token and the price if crosses the 70 points will indicate the immense buying and the price will move upwards.
Moving Average Convergence/Divergence ( MACD )
In MACD, The fast blue line moving average is moving above the red slow line moving average and the histogram is showing an increase in the volumes which is a positive sign for the price. But the volume has to significantly keep increasing if we want an uptrend in the price.
SOL LIVE CHART :
CONCLUSION :
The price of the token is considered to be bullish in the short term timeframe as the volume has increased and also the price is approaching towards the bullish zone. However, if the price gets reject from the $20.42 resistance then we can fall to the levels $18.9 support and then $13.
TECHNICAL LEVELS :
SUPPORT : $18.9, $13 AND $9
RESISTANCE : $20.42, $27.72 AND $36.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
