Solana is now trading at $23.54 after tracing out a steady $23.04 – $23.74 range today.
Solana made an initial break below its 3 day Simple Moving Average at $21.82, a possible indication of a forthcoming negative trend. Solana's upper Bollinger Band® is at $24.89, suggesting that a downward move may follow. Despite this, 'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end. Solana is climbing away and is now $1.31 from the $22.23 support line.
Although price action remains in a stalemate, technical analysis suggests Solana could be primed for a break to the downside.
While SOL is pretty flat so far today, mixed performances are seen elsewhere as FTX Token is up 9.54%. Polkadot is up 3.59%. Tezos USD gained 2.11% and is now trading at $1.03.
Solana has gained 137.41% since its lowest print of $9.64 earlier this year. SOL is currently trading with a market cap of 8.73 billion with an average daily volume of 210.78 million.