Solana Still On A Downtrend A Low Volume Subsists

SOL/USDT Price Analysis for September 28

Solana has attracted a lot of attention. Many traders and investors are looking up to the coin with the hope that it will pump again. However, a look at the One-Day and 7-Days SOL chart shows that the crypto asset is in a downtrend. This can be seen from the RSI indicator which shows that SOL is ranging in the overbought region. The implication is that there just isn’t enough volume to trigger a reversal. At least not in the meantime.

With the maximum RSI of around 60 and the average around 50, SOL is mildly overbought. So we can conclude that we shall see the coin value test the $123 support. The key support at $115 according to the 4H chart. Unless we see greater volumes, these supports would not trigger reversal. 

Share:

Author: Jofor Humani

Jofor is a crypto journalist with passion for investigative review of projects with the aim to determine the authenticity of their claims.