Solana Price Analysis – November 28
For Solana’s downward trend, the dip is likely to worsen because of a recent decline in the crypto world.
Resistance levels: $225, $235, $245
Support levels: $160, $150, $140
SOL/USD like many other top cryptos is trading on the negative side as the current pullback has been across the board and the Solana is taking a strong hit as well. The coin is currently trading at $189.06, dropping from under $200 and hovers around the lower boundary of the channel at the time of writing.
Solana Price Analysis: Where is Solana Price Going Next?
The Solana price is currently at the downside, a cross below the lower boundary of the channel may increase the short-term selling pressure while the next supports may come around $160, $150, and $140. Meanwhile, any bullish movement above the 9-day and 21-day moving averages may reach the next resistance at $225, $235, and $245 levels.
On the positive side, the technical indicators could start a new bullish session. It is, however, not clear how long the session will last because, this month, both bullish and bearish sessions have been frequent. Therefore, it is important to watch the resistance and support levels coupled with the movement of other indicators within the daily chart.
SOL/BTC Market: Bears are Coming to Play
Comparing with Bitcoin, the market price is moving sideways as the coin is currently trading at 3492 SAT below the 9-day and 21-day moving averages. Looking at the daily chart, if the coin can make a cross above this barrier, the bulls may push the price towards the upper boundary of the channel.
However, if the market drops more, the next key support may come at 3000 SAT and below. On the bullish side, a possible rise could push the market above the upper boundary of the channel to hit the resistance level of 4000 SAT and above. As reveals by the technical indicator which is the Relative Strength Index (14), the market may continue the downward movement as the signal line nosedives below 50-level.