Solana might retest this support level

What's in this article

Solana touched the lower low of $80 on January 24. Solana might retest this support level again as price as the price moves in a bearish parallel channel.

Solana price today is $91.07 USD with a 24-hour trading volume of $1,682,058,433 USD. Solana is down 2.82% in the last 24 hours, with a market cap of $29,112,158,119 USD. It has a circulating supply of 319,660,251 SOL coins. 

Source: Tradingview

Solana: Analysis

On the daily chart, Solana has first support at $80 and the next is at $50 which will be the lowest in the last 6 months. For an upside movement, Solana needs a healthy breakout from this bearish channel. Solana has resistance at a previous high of $122 and then at $132.

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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