This website uses cookies to ensure you get the best experience on our website

Technical Analysis for SOLUSD for 29th June 2022

Solana in Range, SOL Finds Support at $33

Past Performance of SOL

Solana is still in the top 10 but down eight percent on the last trading day. From the SOL candlestick arrangement in the daily chart, the coin is within a bullish breakout pattern, trading above the middle BB—a flexible resistance level. Overall, buyers appear confident even though prices are within a tight $10 range below $43.

Solana Technical Analysis

After deep losses from early April, prices broke above the middle BB for the first time in over six weeks—a shot in the arm for buyers. As prices recover, buyers can add to their longs, provided prices are above the middle BB. The first target is at $43—last week's highs—and if buyers build up momentum, the coin may rally another 40 percent to retest $60—a critical reaction level in May 2022. Conversely, bears will be back in contention once there is a close below the middle BB and $33. In that case, SOL may drop to retest 2022 lows at $26 in a bear continuation pattern.

What to Expect from SOL

SOL is at around H2 2021 lows at spot rates. While SOL is firm, buyers need to break above immediate resistance levels for confirmation. Any drop below $23 may draw sellers angling for $13—or worse.

Resistance level to watch: $43

Support level to watch: $33

Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.

Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020