Currently trading at $33.32, Solana remains range-bound between $32.49 and $33.44.
Support/Resistance levels obtained from chart analysis indicate that Solana price action is currently oscillating around the $33.25 resistance level with prices moving above and below several times during the session. Concerning technical analysis and more specifically, trend indicators, investors are seeking long positions as Solana price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Solana formed a session range of $32.49 to $33.44 leaving buyers and sellers highly concentrated around an active Fibonacci resistance level of $33.26. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $33.5, thereby suggesting that SOL is becoming overvalued.
Notwithstanding SOL's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
At the same time, Cardano is down to $0.4, losing $0.006, after closing at $0.406 in the preceding trading session. Binance Coin is trading around $310.53 (down $3.07). After ending today's session at $116.22, Bitcoin Cash lost $0.98 and is trading around $115.24.
Approximately 11 months ago, Solana reached a significant high of $258.93 but has struggled to hold onto its gains and declined 87.27% since then. Solana has a market cap of 11.96 billion with an average daily volume of 80.48 million.