Solana is Predicted to Drop to $16.09 By Jul 11, 2023

Disclaimer: This isn’t funding recommendation. The knowledge supplied is for basic functions solely. No info, supplies, companies and different content material supplied on this web page represent a solicitation, suggestion, endorsement, or any monetary, funding, or different recommendation. Search unbiased skilled session within the type of authorized, monetary, and monetary recommendation earlier than making any funding determination.

• Solana is up 8.00% right now in opposition to the US Greenback
• SOL/BTC elevated by 8.95% right now
• SOL/ETH elevated by 10.05% right now
• Solana is presently buying and selling 27.17% above our prediction on Jul 11, 2023
• Solana dropped -1.19% within the final month and is down -43.44% since 1 yr in the past

SOL value is predicted to drop by -21.37% within the subsequent 5 days based on our Solana value prediction

Solana value right now is buying and selling at $ 20.46 after gaining 8.00% within the final 24 hours. The coin outperformed the cryptocurrency market, as the whole crypto market cap elevated by 7.32% in the identical time interval. SOL carried out effectively in opposition to BTC right now and recorded a 8.95% achieve in opposition to the world’s largest cryptocurrency.

In line with our Solana value prediction, SOL is predicted to achieve a value of $ 16.09 by Jul 11, 2023. This is able to signify a -21.37% value lower for SOL within the subsequent 5 days.

SOL Worth Prediction Chart

Purchase/Promote Solana

What has been occurring with Solana within the final 30 days

Solana has been displaying a destructive development not too long ago, because the coin misplaced -1.19% within the final 30-days. The medium-term development for Solana has been bearish, with SOL dropping by -2.55% within the final 3 months. The long-term image for Solana has been destructive, as SOL is presently displaying a -43.44% 1-year value change. On today final yr, SOL was buying and selling at $ 36.18.

Solana reached its all-time excessive value on Nov 06, 2021, when the value of SOL peaked at $ 259.52. The present SOL cycle excessive is $ 27.16, whereas the cycle low is at $ 8.12. SOL has been displaying low volatility not too long ago – the 1-month volatility of the coin is at 9.34. Solana recorded 19 inexperienced days within the final 30 days.

Solana technical evaluation for right now – Jul 06, 2023

The sentiment within the Solana markets is presently Impartial, and the Worry & Greed index is studying Greed. Crucial assist ranges to look at are $ 18.74, $ 18.29 and $ 17.96, whereas $ 19.53, $ 19.87 and $ 20.32 are the important thing resistance ranges.

Impartial sentiment for Solana

19 indicators are presently signaling a bullish prediction for Solana, whereas 8 indicators are exhibiting a bearish forecast. With 70% of indicators favoring a constructive prediction. This ends in an general Impartial sentiment for Solana.

Crypto market is presently experiencing Greed

At present, the Worry & Greed index is at 56 (Greed), which indicators that traders have a constructive outlook available on the market. The Worry & Greed index is a measure of sentiment amongst cryptocurrency traders. A “Greed” studying means that traders are presently optimistic in regards to the cryptocurrency market, however will also be a sign that the market is overvalued. A “Worry” studying, alternatively, indicators that traders are presently hesitant in regards to the cryptocurrency market, which probably represents a shopping for alternative.

Solana transferring averages & oscillators

Let’s check out what a number of the most necessary technical indicators are signaling. We’ll be going via key transferring averages and oscillators that can permit us to get a greater thought of how Solana is positioned available in the market proper now.

The Relative Energy Index (RSI 14) is a extensively used indicator that helps inform traders whether or not an asset is presently overbought or oversold. The RSI 14 for Solana is at 76.99, suggesting that SOL is presently overbought.

The 50-day Easy Shifting Common (SMA 50) takes under consideration the closing value of Solana over the past 50 days. At present, Solana is buying and selling beneath the SMA 50 trendline, which is a bearish sign.

In the meantime, the 200-day Easy Shifting Common (SMA 200) is a long-term trendline that’s calculated by taking a mean of the SOL closing value for the final 200 days. SOL is now buying and selling above the SMA 200, signaling that the market is presently bullish.

The underside line about this Solana prediction

After contemplating the above elements, we will conclude that the present forecast for Solana value prediction is Impartial. SOL must lower by -21.37% to hit our $ 16.09 goal throughout the subsequent 5 days. Shifting ahead, it will likely be necessary to watch the SOL market sentiment, the important thing assist and resistance ranges, and different metrics. Nevertheless, now we have to understand that the cryptocurrency markets are unpredictable, and even the biggest crypto property show numerous value volatility. For long-term Solana value predictions click on right here.

Disclaimer: This isn’t funding recommendation. The knowledge supplied is for basic functions solely. No info, supplies, companies and different content material supplied on this web page represent a solicitation, suggestion, endorsement, or any monetary, funding, or different recommendation. Search unbiased skilled session within the type of authorized, monetary, and monetary recommendation earlier than making any funding determination.