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April 13, 2023
A mostly flat day so far for Solana, ranging between $23.71 and $24.03; currently at $23.8.
Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Analysis based on the asset volatility indicates that SOL's upper Bollinger Band® is at $23.9, suggesting that a downward move may follow. As the day gets underway, chart analysis suggests SOL is approaching key support, around 87 cents away from $22.93. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Overall, while Solana has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
While Solana is pretty flat so far today, mixed performances are seen elsewhere as FTX Token is up 9.54% to $1.36. NEAR Protocol is down to $2.19, losing $0.039, after closing at $2.23 in the preceding trading session. Having closed the previous session at $6.37, UNICORN Token USD is up 1.62% today to currently trade at around $6.47.
11 months ago Solana reached a significant high of $108.72 but has consequently lost 78.06% since then. Solana is currently trading with a market cap of 9.32 billion with an average daily volume of 354.64 million.
