- Solana price is testing support at $185, and a breakout could reach $200.
- Solana price chart indicates flat MACD, which signifies indifference and a lack of momentum in the market.
- The RSI value of Solana is 43.58, which indicates a neutral market situation, with no bull or bear weight.
Solana price is under pressure, especially at around the $185 mark. Traders are watching keenly to see whether Solana price will remain above this mark or run the risk of a retracement The market is looking to see any signs of weakness or strength to decide the way a major move will take place.
Solana Price Technical Analysis and Current Range
Solana price stands at approximately $180, with a slight dip of 2.12% over the past several hours. It has been trading on a narrow range of $179.92 to $185, signaling consolidation and market indecision. Analyst Ali Charts has shown that Solana might be experiencing a range, where the closest area of support would occur around the $170 range and the 0.786 Fibonacci retracement. A more significant retreat can reach $158, which is close to the 0.886 Fibonacci level.
Source:Â Ali charts/X
On the other hand, a breach above $185 will indicate that buyers are gaining momentum, which can attract the Solana price to $200. A break above this level may see further gains towards the 1.272 Fibonacci extension at $260 and the 1.414 extension at $277, and the 1.618 extension levels at $320. Failure would probably cause a retest of lower support levels unless it could hold above $185.
Solana Price Indicators Suggest Neutral Sentiment
The MACD (Moving Average Convergence Divergence) is presenting weak directional movement, with the MACD line floating slightly over the signal line. The histogram is very flat which is further indicative of a neutral market mood. The absence of such clear momentum might maintain Solana price in its current range unless a breakout transpires.
Source: Tradingview
The Relative Strength Index (RSI) also indicates a neutral market at the 43.58 level. Solana price is not in a very strong bullish or bearish area, which indicates that it is neither in an overbought, nor an oversold position. The growth of RSI above 50 could be considered an indicator of the beginning of a strong bullish market, and the fall to a level below 40 may signal further risks of Riot.
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