Is the SOL Bull Market Over? Three Things to Consider Today (Solana Price Analysis)


21 Nov 2023 9:23 AM

Solana's spectacular performance has come to an end - or at least that's how the market looks at the time of this writing. Key Support levels: $44 Key...

  • Solana faced resistance at $67 and was rejected by sellers, leading to a loss of momentum.
  • Bears have taken over, indicating the end of the uptrend that started in mid-October.
  • The daily MACD moving averages crossed bearishly, confirming the return of sellers.
  • If buyers do not return, Solana could fall back to its current support level at $44.
  • The bearish divergence spotted last week has been confirmed, with the price failing to make higher highs.
  • The bias remains bearish until the daily RSI makes higher highs.
  • Solana is now in search of support, with $44 being a strong candidate to attract buyers.
  • Once support is found, there is potential for Solana to move higher again.

The sentiment in the article is bearish, indicating a negative outlook for Solana. The resistance at $67 and the bearish cross of the MACD moving averages suggest a shift in momentum towards sellers. The article highlights the potential for a correction and a fall back to the support level at $44.

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You May Ask

What are the key support and resistance levels for Solana?What happened when the price reached the resistance at $67?What confirms the return of sellers in Solana?What is the potential outcome if buyers do not return?What is the current bias for Solana and what conditions could change it?

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