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Daily Technical Analysis Research – Cryptocurrency (SOLANA)

SOLANA (SOL/USD):

Solana has been an intriguing Altcoin to watch in recent weeks, but the lack of volatility makes it difficult to predict its next price move. Like many other Altcoin’s, its price is either consolidating around support or facing resistance. As shown below, Solana remains within its current range, trading slightly above $147.00.

Daily Technical Analysis Research - Cryptocurrency (SOLANA) - Screenshot 2024 10 09 at 12.33.47 1024x558

Taking a closer look at the technicals, we can observe that the price action has recently moved into this internal ascending trend line, where it found some support, briefly rejected it, and then traded slightly higher. The RSI is relatively flat, hovering around the 50% level, with no significant signs indicating that the market is either overbought or oversold at the moment.

Daily Technical Analysis Research - Cryptocurrency (SOLANA) - Screenshot 2024 10 09 at 12.34.29 1 1024x556

Author

Matthew Hayward
Matthew is a well-experienced Market Analyst with a key focus on both Fundamental and Technical Analysis. He has experience in covering various market topics including Cryptocurrency, Foreign Exchange, Indices, and Commodities. He looks to provide we...
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