Solana under hidden bearish divergence

What's in this article

On 4-hour time frame, moving below EMA 50, Solana is forming Hidden Bearish Divergence.

Solana price today is $135.52 USD with a 24-hour trading volume of $1,408,338,487 USD. Solana is down 2.66% in the last 24 hours, with a market cap of $42,192,267,010 USD. It has a circulating supply of 311,341,585 SOL coins.   

Source: Tradingview

Solana: Analysis

Hidden Bearish Divergence appears when the price is making lower highs and the Oscillator makes higher highs. Such patterns indicate the continuation of a bearish trend, meaning Solana is the bearish 4-hour time frame. Solana has support at the highlighted region of $140 but it might not be able to hold off the price plunge. The next support level for Solana is at $120, fib 1.272. The resistance level is above the previous high of $153.

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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