Business

LUNA/USD prices are consolidating around the $100.27 level, an upside breakout is expected

TL;DR breakdown

  • Solana price analysis indicates a bearish trend for today’s analysis
  • Current support stands at $95.14
  • There is firm resistance at $103.47
Solana price analysis: SOL/USD consolidates near $96, is a breakout next? 1
Cryptocurrency price heatmap, source: Coin360

Solana price analysis indicates that the SOL/USD pair opened today’s market in a downtrend, a retracement of the uptrend observed during yesterday’s market close. Solana’s current price is $96.27, down 3.28 percent from previous prices. The 24-hour volume also saw a decline from 18.49 to $3,076,961,196.65. According to Solana price analysis, prices have ranged from $94.04 to $98.98 in the last 24 hours.

These declines could be a result of the declining market the entire market is currently going through. The analyst expects the Solana to recover over the next few days and reach its previous highs. The main resistance level is $100.47 while the main support level is $95.14.

Solana prices are expected to rally to uptrends as bulls attempt to push prices back to previous highs. The analyst believes that the bulls are still in control of the market and that the current declines represent only a minor correction before the next bull run.

Solana price analysis on 24-hour chart: SOL/USD price slips slightly to $95

Solana’s price action on the 24-hour chart shows a downtrend that the market is currently experiencing. The downtrend started early in the day and has continued for most of the day. The bulls have failed to push prices back to previous highs as they have faced a lot of resistance. The analyst believes the downtrend will continue for the rest of the day with a possible breakout to the upside if the bulls manage to take control of the market.

Solana price analysis: SOL/USD consolidates near $96, is a breakout next? 2
SOL/USD 1-day price chart, Source: TradeView

The MACD line is in negative territory and below the signal line, indicating that the bears are currently in control of the market. The RSI is also in the oversold territory, which shows that there is a lot of selling pressure in the market. The stochastic oscillator is also in the oversold territory, suggesting that a trend reversal may be imminent.

The analyst believes the bull run is not over and that a reversal could be seen in the next few hours. The Bollinger Bands are also in expansion mode, which suggests that a major move is expected soon.

Solana 4 hour chart analysis: SOL/USD prices consolidate at $100.24, bulls rally to rally market

The Solana price analysis on the 4-hour chart shows that the market is in a consolidation phase. The market has been bouncing between the two MAs and is currently stuck between them. The analyst believes this is just a temporary phase and the market will eventually break out to the upside. The bullish breakouts will be confirmed if the price manages to break above the $100.47 resistance level.

Solana price analysis: SOL/USD consolidates near $96, is a breakout next? 3
SOL/USD 4-hour price chart, Source: TradingView

The MACD line is in positive territory and above the signal line, which indicates that the bulls are currently in control of the market. The RSI is also in the overbought territory, which shows that there is a lot of buying pressure in the market. The Bollinger Bands are suggesting a bullish breakout in the near future.

The stochastic oscillator is also in the overbought territory, suggesting that a reversal may be imminent. The analyst believes the bull run is not over and that a reversal could be seen in the next few hours. The main resistance level is $103.47 while the main support level is $97.14.

Conclusion of the Solana price analysis

The analyst expects the Solana to recover over the next few days and reach its previous highs. The main resistance level is $103.47 while the main support level is $97.14. Solana prices are expected to rally into uptrends as bulls attempt to push prices back to previous highs. The analyst believes that the bulls are still in control of the market and that the current declines represent only a minor correction before the next bull run.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com is not liable for any investments made based on the information provided on this page. We strongly recommend independent research and/or advice from a qualified professional before making any investment decisions

https://www.cryptopolitan.com/solana-price-analysis2022-03-04/ LUNA/USD prices are consolidating around the $100.27 level, an upside breakout is expected

Songdep

Inter Reviewed is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@interreviewed.com. The content will be deleted within 24 hours.

Related Articles

Back to top button