SOL is at $12 support level

Bulls may soon dominate the Solana market

Solana Price Analysis – December 2nd

If buyers defend the $12 support level and the bulls gain momentum, the price could break the $19 resistance level, exposing the price to the $23 and $26 resistance levels. , the price could drop further below the $12 support level and test the $10 and $8 support levels.

SOL/USD Market

Main levels:

Resistance Levels: $19, $23, $26

Support levels: $12, $10, $08

SOL/USD Long-Term Trend: Range

On the daily timeframe, Solana has a range of movements. Seller pressure pushed the price up to the found support level of $12. The price jumped as a pullback, but sellers held on to their coins. Sellers lost momentum as the $12 lows were retested. The bulls have very low pressure as well and she will see the price correct near the $12 support level in this scenario.

Solana is trading closely between the 9 and 21 period EMAs indicating low bearish and bullish momentum. If buyers defend the $12 support level and the bulls gain momentum, the price could break the $19 resistance level, exposing the price to the $23 and $26 resistance levels. , the price could drop further below the $12 support level and test the $10 and $8 support levels.

SOL/USD Mid-Term Trend: Range

On the 4-hour chart, Solana is ranging. The price has been rejected at the $38 resistance level. It started to decrease and broke the support levels of $23 and $19. The lower support level of $12 will be tested on November 9th. The bearish pressure has weakened as well as the bullish pressure and then started to consolidate.

Solana is trading around two EMAs, the 9-period EMA is tied to the 21-period EMA, indicating a ranging market. However, the Relative Strength Index period 14 is at the 47 level and the signal line is pointing up to indicate a buy signal. Bullish momentum is low in the Solana market and bullish in the Dash 2 Trade market.

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