SOL USDT 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-USDT. Solana is a fast, decentralized blockchain platform that enables developers to build scalable and secure applications. With its innovative consensus algorithm and flexible architecture, Solana supports a wide range of use cases, from decentralized finance (DeFi) to gaming and social media platforms. By leveraging the power of blockchain technology, Solana aims to provide users with a more secure, transparent, and accessible digital ecosystem.

Solana Price Overview:

As of May 13, 2024, Solana is trading at approximately 145.83 USDT. Let’s dive into the detailed price action for SOL-USDT:

Solana (SOLUSDT) poised for growth at 145.83 USDT, as bullish technical analysis reveals robust support and promising indicators.

Metric Value
Open (O) 143.42
High (H) 147.5
Low (L) 137.78
Close (C) 145.83
Volume (C) 3,189,391.44
  • Open (O): The opening price for today’s trading session was approximately 143.42 USDT.
  • High (H): Solana reached a daily high of around 147.5 USDT.
  • Low (L): The daily low for SOL-USDT was approximately 137.78 USDT.
  • Close (C): At the time of analysis, Solana is trading near its daily close of 145.83 USDT.
Metric Value
1D Change (%) 1.67%
3D Change (%) -0.12%
7D Change (%) -4.57%
30D Change (%) 5.32%
90D Change (%) 29.65%
YTD Change (%) 43.36%

Over the past three days, SOLUSDT has dropped by approximately -0.12%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -4.57%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with SOLUSDT maintaining an upward trend of approximately 5.32%, despite intermittent fluctuations. Examining the last 90 days, SOLUSDT has witnessed substantial increase of approximately 29.65%, reflecting strong long-term confidence. Year-to-date, SOLUSDT has steadily appreciated by around 43.36%, 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-USDT 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 0.61761.
  • Momentum score is -0.07085.

SOL USDT Technical Analysis

Solana Trading Volume:

The trading volume for Solana (SOL) over the past 24 hours has been insignificant, with approximately 3,189,391.44 USDT 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-USDT is currently in the neutral zone, around 49.09238. This suggests that Solana is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

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

Solana (SOLUSDT) poised for growth at 145.83 USDT, as bullish technical analysis reveals robust support and promising indicators.

For a deeper dive into the subject, don’t miss our comprehensive analysis on SOL BTC Solana Technical Analysis if you found this post intriguing.

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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