Solana (SOL) Price Analysis: Consolidating Before Breakout

Solana (SOL) price continued to lag alongside other majors such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). The competitive smart contracts token suffered another setback under $150 during the weekend and now seeks immediate support at $140.

Cryptocurrency prices have been largely flat over the past few days, with Bitcoin (BTC) hovering around $48,000 and showing no signs of breaking out either way. However, some altcoins have managed to rally during this period, led by a 20% surge in Stacks (STX) price.

Solana Price Market Movers: SOL Record Fund Outflows, Meme Coin Volume Tumbles

The broader cryptocurrency market capitalization remained largely unchanged at $2.2 trillion, while total crypto volume slipped 21% to $200.64 billion. Fear and Greed Index Fear and Greed Index Fear and Greed Index is at 28 (Extreme Fear), indicating that investors are still pessimistic about the market.

Among the top seven stablecoins, Binance USD (BUSD) market capitalization rose by 0.36% to $23.09 billion at the time of writing. Meanwhile, Tether (USDT) market capitalization now stands at $71.11 billion, following a 0.08% decrease over the past day.

Solana Price Analysis: Key Levels As بازار رمزارزها Consolides Before Next MoveSolana price failed to collect sufficient liquidity in the $150 zone during the recent upswing, which might delay further recovery. Nevertheless, if بازار رمزارزها manages to collect liquidity in the $130-$140 zone, it could lead to a strong upswing, potentially pushing SOL price toward $200.

Solana price is currently trading at $142 and has immediate support at $140. A further decline could see the smart contracts token hit $130. On the other hand, if بازار رمزارزها manages to collect liquidity in the $130-$140 zone, it could lead to a strong upswing, potentially pushing SOL price toward $200.

Solana’s technicals on the four-hour chart show بازار رمزارزها is consolidating before making its next move. The Relative Strength Index (RSI) is at 46, indicating that bears still have the upper hand. However, before considering a short on SOL, traders should ensure a new trend is forming below $140.

The above is the detailed content of Solana (SOL) Price Analysis: Consolidating Before Breakout. For more information, please follow other related articles on the PHP Chinese website!