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 May 14, 2024, Solana is trading at approximately 0.00232 BTC. Let’s dive into the detailed price action for SOL-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.00234 |
| High (H) | 0.00239 |
| Low (L) | 0.00231 |
| Close (C) | 0.00232 |
| Volume (C) | 96,553.30 |
- Open (O): The opening price for today’s trading session was approximately 0.00234 BTC.
- High (H): Solana reached a daily high of around 0.00239 BTC.
- Low (L): The daily low for SOL-BTC was approximately 0.00231 BTC.
- Close (C): At the time of analysis, Solana is trading near its daily close of 0.00232 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.07% |
| 3D Change (%) | -3.01% |
| 7D Change (%) | -2.39% |
| 30D Change (%) | 0.60% |
| 90D Change (%) | 2.64% |
| YTD Change (%) | -3.62% |
Over the past three days, SOLBTC has fallen by approximately -3.01%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -2.39%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with SOLBTC maintaining an upward trend of approximately 0.60%, despite intermittent fluctuations. Examining the last 90 days, SOLBTC has witnessed substantial rise of approximately 2.64%, reflecting strong long-term confidence. Year-to-date, SOLBTC has steadily decreased by around -3.62%, 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 0.52742.
- Momentum score is -0.00485.
SOL BTC Technical Analysis
Solana Trading Volume:
The trading volume for Solana (SOL) over the past 24 hours has been insignificant, with approximately 96,553.30 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 below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Solana is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for SOL-BTC is currently in the neutral zone, around 49.11983. 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 bearish 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) upward trajectory at 2.32e-03 BTC with bullish technical analysis, highlighting strong support and promising indicators.
Don’t overlook our detailed insights on SOL USDT Solana Technical Analysis if you found this post captivating; it’s a must-read for further exploration.
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.