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Monday, December 5, 2022
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    HomeAltcoinSolana (SOL) Price Prediction: SOL Retest Weekly Lows Near $88, Is time...

    Solana (SOL) Price Prediction: SOL Retest Weekly Lows Near $88, Is time to Enter!

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    Solana (SOL) price edges decrease because the contemporary buying and selling week begins. SOL has examined the decrease buying and selling vary of the consolidation begins on January 22. On the weekly chart, SOL value has examined a number of weekly assist round $87 and will drop towards the lows final seen in August at $66.21.

    • Solana’s (SOL) value continues to commerce decrease on Monday.
    • Traders anticipate a turnaround from the important assist degree.
    • Nonetheless, the draw back threat stays intact under $80.0.

    On the time of writing, SOL/USD is buying and selling at $87.99, down 3.40%. As per the CoinMarketCap, the 8th largest cryptocurrency 24-hour buying and selling quantity stands at $2,233,525,534 with 60% features.

    SOL value trades close to important degree

    On the every day chart, Solana’s (SOL) value motion flipped close to the resistance-turned-support degree round $88.0. The worth surged 51% from the lows of January low of $80.79. Additional, after the swing highs made on February 7 at $122.0 SOL makes a wholesome retracement close to the dependable assist.

    Supply: Buying and selling View

    If the worth is ready to maintain the essential assist degree then SOL/USD has the potential for reversal. The speedy first goal may very well be discovered on the psychological $100.0 degree adopted by a gathering of the 50-day EMA (Exponential Transferring Common) at 121.43.

    Moreover, a decisive shut above the 50 and 200 EMA crossover SOL has the potential to the psychological degree of $150.0.

    On the flip aspect, a spike within the promote order may outcome within the failure to maintain the talked about critically may drop towards the lows final seen in August close to $72.0.

    Technical indicators

    RSI: The Each day Relative Power Index (RSI) holds under 35 and is approaching the oversold zone.

    MACD: The Transferring Common Convergence Divergence (MACD) hovers under the midline with a bearish bias.

    Disclaimer

    The offered content material might embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty in your private monetary loss.

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