SOL BTC Solana Technical Analysis

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By Frans van Elst

Solana logo In this Solana technical analysis, we will examine the current price action, trading volume, key levels and indicators for SOL-BTC. Solana is a fast, decentralized blockchain platform that enables developers to build scalable and secure applications. Its proof-of-stake consensus algorithm allows for high transaction throughput and low latency, making it an attractive choice for dApps and enterprise use cases. Additionally, Solana’s programmable token standard, known as “Solana Token Program” (STP), enables the creation of a wide range of tokens and assets, further expanding its potential use cases.

Solana Price Overview:

As of April 09, 2024, Solana is trading at approximately 0.00247 BTC. Let’s dive into the detailed price action for SOL-BTC:

Navigate Solana’s (SOLBTC) potential downturns at 2.47e-03 BTC with bearish technical analysis, emphasizing weakened support and cautionary indicators.

Metric Value
Open (O) 0.00252
High (H) 0.00253
Low (L) 0.00246
Close (C) 0.00247
Volume (C) 112,653.84
  • Open (O): The opening price for today’s trading session was approximately 0.00252 BTC.
  • High (H): Solana reached a daily high of around 0.00253 BTC.
  • Low (L): The daily low for SOL-BTC was approximately 0.00246 BTC.
  • Close (C): At the time of analysis, Solana is trading near its daily close of 0.00247 BTC.
Metric Value
1D Change (%) -1.92%
3D Change (%) -4.61%
7D Change (%) -10.76%
30D Change (%) 18.15%
90D Change (%) 13.10%
YTD Change (%) 2.86%

Over the past three days, SOLBTC has dropped by approximately -4.61%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -10.76%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with SOLBTC maintaining an upward trend of approximately 18.15%, despite intermittent fluctuations. Examining the last 90 days, SOLBTC has witnessed substantial increase of approximately 13.10%, reflecting strong long-term confidence. Year-to-date, SOLBTC has steadily increased by around 2.86%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

Solana Live Chart:

You can access a live price chart for SOL-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.34112.
  • Momentum score is -0.09752.

SOL BTC Technical Analysis

Solana Trading Volume:

The trading volume for Solana (SOL) over the past 24 hours has been insignificant, with approximately 112,653.84 BTC traded against SOL. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): SOL is currently trading above the 50-day SMA, indicating short-term bullish momentum.
  • 200-day Simple Moving Average (SMA): Solana is also trading above the 200-day SMA, indicating a positive long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for SOL-BTC is currently in the neutral zone, around 50.54426. This suggests that Solana is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

Solana (SOL-BTC) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.

Navigate Solana’s (SOLBTC) potential downturns at 2.47e-03 BTC with bearish technical analysis, emphasizing weakened support and cautionary indicators.

Take your understanding to the next level with our extensive analysis of SOL USDT Solana Technical Analysis; if you enjoyed this post, you’re in for a treat!

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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