SOL/USD has collected losses after posting moderate gains

About two weeks ago the SOL/USD market traded above $30. This caused significant selling pressure, with Solana breaking below the previous support near $27. There have been some recent moves to regain previous support, is that possible? We’ll have to look closer.

Solana’s predictive stats:
SOL Price: $18.00
SOL market cap: $5.07 billion
Solana distribution volume: 362.76 billion
Total SOL supply: 533.49 billion
Solana Coinmarketcap Ranking: 13th

Important price marks:
Resistance Marks: $18.00, $20.00, $22.00
Support Marks: $17.00, $16.00, $15.00

Solana Price Prediction for Today, Nov 14, 2022: Bears Make Moderate Gains on SOL/USD

SOL/USD bounced upwards after testing $10 at the 100 Fibonacci levels. After that, there was enough buying in one session to take Solana above her $20 resistance. However, selling pressure resumed and price action fell to her $18. Meanwhile, all of these occurred below the 9-day and 21-day moving averages. Therefore, this indicates that the price action remains in bearish territory. At the same time, not all is lost, so the RSI is trending upwards, demonstrating the importance of the recent rally. Unless the bulls can get a firm grip on price action long enough, we can expect SOL to trade at the $27 price level for some time.

Solana Price Prediction for Today on 14 November 2022: SOL/BTC Falling Down

Coming to the SOL/BTC market, we can see price action well below the 100 Fibonacci level. At this point, all recently recorded gains in this market have been completely lost. Moreover, it looks like further price declines are possible in this market. This opinion comes from the fact that price action is below the MA line. Also, the RSI curve seems to be preparing for another bearish crossover at oversold levels. All these signs indicate that price action in this market is not ready to move higher.

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