Solana in Descending Triangle pattern: Price analysis

Solana in descending triangle pattern was holding the price at the base but it broke below with the confirmation candles.

The Solana price today is $212.13 USD with a 24-hour trading volume of $4,298,535,226 USD. Solana is up 5.69% in the last 24 hours, with a live market cap of $64,412,818,987 USD. It has a circulating supply of 303,642,763 SOL coins.

Solana in Descending Triangle
Source: TradingView

Solana in Descending Triangle: Analsis

The support level for SOL was at the base of the triangle pattern above the $200 mark but this support level could not hold the decline and it plunged to fib 1.618 at $186. The resistance lies near the $200 mark where it meets EMA 200 line. Bitcoin seems bearish so we’ll see more decline in altcoin including Solana.


About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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