SOL/USD Gathered Losses After Recoding Moderate Gains

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It was about two weeks ago when SOL/USD market was seen trading above the $30 level. This attracted significant selling pressure, and this has caused Solana to sink below its previous support near $27. There has been some more move recently to regain its previous support, but will it be possible? We’ll never know unless we take a closer look.

Solana’s Forecast Statistics Data:SOL price: is $18.00SOL market capitalization: $5.07 billionSolana circulating supply: 362.76 billionSOL overall supply: 533.49 billionSolana Coinmarketcap ranking: #13

Crucial Price Marks:Resistance Marks: $18.00, $20.00, $22.00Support Marks: $17.00, $16.00, $15.00

Solana Price Prediction Today, November 14, 2022: Bears Taking Out Moderate Gains in SOL/USD

SOL/USD rebounded upwards once it tested the 100 Fibonacci level of $10. Subsequently, there was enough buying in one session which saw Solana rising above the $20 resistance. However, selling pressure resumed and caused price action to retrace lower to $18. Meanwhile, all this happened below the 9 and 21-days moving averages. Consequently, this Portrays that price action remains in the Bear territory. At the same time, the RSI stays poised upward to indicate the significance of the recent gain, since all hasn’t been lost. We can expect SOL to trade under the $27 price level for a while unless bulls could gain a firm grip on price action long enough.

Solana Price Prediction Today, November 14, 2022: SOL/BTC Retraces Lower

Coming to the SOL/BTC market we can see price action falling sharply below the 100 Fibonacci level. At this point, all the recently recorded gains in this market have been completely lost. Furthermore, it looks as if we might still witness further price decline in this market. This opinion is coming from the fact that price activities stay below the MA lines. Also, the RSI curves are appearing to be getting prepared for another bearish crossover in the oversold level. All these signs portrays that price action in this market isn’t ready to move upward. Therefore, we may soon witness SOL/BTC falling toward the 0.0007600 level.

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