Solana Sees Sharp Decline To $146, Will SOL Overcome Latest Hurdles?

Quick Summary:

Meanwhile, on the 1-day chart, it can be observed that Solana is bearish as it is trading below the 100-day SMA and also attempting to drop a bearish candlestick with strong momentum.  Also, the signal line and SMA of the 1-day composite trend oscillator have broken below the zero line and are moving toward the oversold zone, which suggests that the price of SOL may move very bearish.

Current Market Analysis For Solana Currently, on the 4-hour chart, the price of SOL after attempting to move upward has begun to drop again with two bearish candlesticks dropped.

Although the composite trend oscillator indicator on the 4-hour chart indicates that SOL’s price may move upward as both the signal line and the SMA of the indicator are heading toward the zero line, it should be noted that this is only a short-term measure because the price will eventually drop even further.

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Article Details

Author / Journalist: Godspower Owie

Category: Crypto

Markets: United KingdomNigerNigeria

Topics: Simple Moving Average SMA Sol SOLUSD SOLUSDT Solana Composite Trend Oscillator Indicator

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-17 @ 18:00:05 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 442 words

Reading Time: 3 minutes read

Sentences: 67 lines

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Copyright Owner: © NewsBTC

News ID: 21288122

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