Tentatively higher from an earlier low of $20.38, SOL is up to $20.69 today, adding $0.229, or 1.12%, to today's closing price of $20.47.
Visual analysis of SOL's chart shows that although Solana is appreciating today after rising as high as $21.12, price action is now slowing and consolidating around $1.86 below the $22.55 resistance level. With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, Solana's lower Bollinger Band® is at $21.19, indicating that the market is oversold and fertile for new buyers.
Overall, the technical outlook suggests SOL is likely to remain muted for the immediate future, with no clear-cut direction.
Solana shows positive signs, other assets are also on par: having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. MaticNetwork USD climbs 3.12% to trade around $1.26. Cosmos USD climbs 2.72% to trade around $13.85.
Solana has fallen back around 85.04% from the significant high of $136.78 set 10 months ago. SOL has a market cap of 7.76 billion with an average daily volume of 175.32 million.