Category: Crypto News, News

Solana (SOL) Price Prediction for May 23

By │Published On: May 23, 2024│1.2 min read│Views: 285│0 Comments on Solana (SOL) Price Prediction for May 23│


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The prices of most of the coins keep going down, according to CoinMarketCap.

Top coins by CoinMarketCap

SOL/USD

The price of Solana (SOL) has declined by 5.22% over the last 24 hours.

Image by TradingView
On the hourly chart, the rate of SOL is looking bearish as it is trading near the local support of $171.24. 

If the situation does not change by the end of the day, the breakout may lead to a further drop to the $165 zone.

Image by TradingView
On the bigger time frame, there are no reversal signals yet. If buyers lose the $170 area, there is a chance to see a test of $160-$165 by the end of the week.

Image by TradingView

From the midterm point of view, the weekly bar is about to close far from its peak, which is a bearish signal. If that happens, traders may expect a test of the nearest support level of $160 soon.

SOL is trading at $171.26 at press time.

About the author


Denys Serhiichuk

Come to my page!
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.

Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.

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