Altszn.com
  • Home
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
    • Monero
    • XRP
    • Zcash
  • Web3
  • DeFi
  • NFTs
No Result
View All Result
Altszn.com
  • Home
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
    • Monero
    • XRP
    • Zcash
  • Web3
  • DeFi
  • NFTs
No Result
View All Result
Altszn.com
No Result
View All Result

SOL pushes past $18 support but short-term sentiment favors these traders

Altszn.com by Altszn.com
September 20, 2023
in Solana
0
SOL pushes past $18 support but short-term sentiment favors these traders
399
SHARES
2.3k
VIEWS
Share on FacebookShare on Twitter


Journalist

Posted: September 21, 2023

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

  • Solana has a bullish structure on the four-hour chart but a bearish one on the daily timeframe
  • The lower timeframe sentiment showed bullish conviction had dried up

Solana [SOL] bulls saw their fortunes change over the past few days when the selling pressure eased and gave them a moment’s respite. The past week saw a bounce in prices that measured close to 20%.


Read Solana’s [SOL] Price Prediction 2023-24


A recent report highlighted the impact commentary and interactions on social media can have on the price of crypto assets. While SOL has some near-term bullish strength, the market sentiment was not firmly bullish at press time.

Can Solana break the bearish market structure?

Solana finds support at $18 as the bulls seek to drive a rally past $20

Source: SOL/USDT on TradingView

The rally from $12.8 to $32.13 in June and July was used to plot a set of Fibonacci retracement levels (pale yellow). The 78.6% extension level was at $16.94. In the past ten days, the lowest SOL reached was $17.33 before buying pressure took the prices higher.

Hence, the support level did not face a test, and the price could be attracted to it since it was also a short-term resistance back in mid-June. It presented an attractive liquidity pocket. The daily market structure remained bearish as SOL needed to beat the $20.6 level to flip it bullishly.

The Relative Strength Index (RSI) was just above neutral 50 and signaled a possible shift in the trend was at hand. The On-Balance Volume (OBV) also broke above September’s resistance and indicated buyer strength was growing. A move past $20.6 and retest could offer a buying opportunity targeting $25.4 and $27.5.

The Open Interest chart showed disinterested bulls

Solana finds support at $18 as the bulls seek to drive a rally past $20

Source: Coinalyze

The Open Interest has been in decline over the past 24 hours and the spot Cumulative Volume Delta (CVD) has also plunged lower. During this time Solana traded at the $20 level, and faces resistance up to the $20.6 mark. The funding rate was negative to highlight short positions had the majority.


How much are 1, 10, or 100 SOL worth today?


The falling OI beneath a resistance zone showed speculators lacked bullish conviction. The falling spot CVD was evidence of strong selling pressure. Hence, the short-term sentiment appeared bearish and SOL could experience a minor pullback from $20 before bouncing higher.



Read More: ambcrypto.com

Tags: favorsPushesSentimentshorttermSOLSolanaSupporttraders
ADVERTISEMENT

Recent

Curve Finance warns its DNS has been hijacked again

Curve Finance warns its DNS has been hijacked again

May 13, 2025
NYC Mayor doubles down on crypto push ahead of city summit

NYC Mayor doubles down on crypto push ahead of city summit

May 12, 2025
Brave Wallet expands support with Cardano integration

Brave Wallet expands support with Cardano integration

May 12, 2025

Categories

  • Bitcoin (4,890)
  • Blockchain (11,484)
  • Crypto (9,425)
  • Dark Web (552)
  • DeFi (8,430)
  • Ethereum (4,943)
  • Metaverse (7,619)
  • Monero (291)
  • NFT (1,527)
  • Solana (5,061)
  • Web3 (20,815)
  • Zcash (508)

Category

Select Category

    Advertise

    Advertise your site, company or product to millions of web3, NFT and cryptocurrency enthusiasts. Learn more

    Useful Links

    Advertise
    DMCA
    Contact Us
    Privacy Policy
    Shipping & Returns
    Terms of Use

    Resources

    Exchanges
    Changelly
    Web3 Jobs

    Recent News

    Curve Finance warns its DNS has been hijacked again

    Curve Finance warns its DNS has been hijacked again

    May 13, 2025
    NYC Mayor doubles down on crypto push ahead of city summit

    NYC Mayor doubles down on crypto push ahead of city summit

    May 12, 2025

    © 2022 Altszn.com. All Rights Reserved.

    No Result
    View All Result
    • Home
      • Home – Layout 1
      • Home – Layout 2
      • Home – Layout 3

    © Altszn.com. All Rights Reserved.

    • bitcoinBitcoin (BTC) $ 102,247.00
    • ethereumEthereum (ETH) $ 2,442.48
    • tetherTether (USDT) $ 1.00
    • xrpXRP (XRP) $ 2.45
    • bnbBNB (BNB) $ 648.59
    • solanaSolana (SOL) $ 170.12
    • usd-coinUSDC (USDC) $ 1.00
    • dogecoinDogecoin (DOGE) $ 0.221029
    • cardanoCardano (ADA) $ 0.787531
    • tronTRON (TRX) $ 0.263410
    • staked-etherLido Staked Ether (STETH) $ 2,441.67
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 102,324.00
    • suiSui (SUI) $ 3.87
    • chainlinkChainlink (LINK) $ 16.32
    • wrapped-stethWrapped stETH (WSTETH) $ 2,930.65
    • avalanche-2Avalanche (AVAX) $ 23.93
    • stellarStellar (XLM) $ 0.301656
    • shiba-inuShiba Inu (SHIB) $ 0.000015
    • hedera-hashgraphHedera (HBAR) $ 0.205305
    • the-open-networkToncoin (TON) $ 3.26
    • leo-tokenLEO Token (LEO) $ 8.60
    • hyperliquidHyperliquid (HYPE) $ 23.67
    • bitcoin-cashBitcoin Cash (BCH) $ 398.72
    • litecoinLitecoin (LTC) $ 100.57
    • pi-networkPi Network (PI) $ 1.06
    • polkadotPolkadot (DOT) $ 4.90
    • usdsUSDS (USDS) $ 0.999898
    • wethWETH (WETH) $ 2,446.36
    • moneroMonero (XMR) $ 334.91
    • wrapped-eethWrapped eETH (WEETH) $ 2,605.21
    • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
    • pepePepe (PEPE) $ 0.000013
    • bitget-tokenBitget Token (BGB) $ 4.64
    • ethena-usdeEthena USDe (USDE) $ 1.00
    • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 102,329.00
    • whitebitWhiteBIT Coin (WBT) $ 30.17
    • uniswapUniswap (UNI) $ 6.65
    • bittensorBittensor (TAO) $ 450.43
    • nearNEAR Protocol (NEAR) $ 3.05
    • daiDai (DAI) $ 1.00
    • aptosAptos (APT) $ 5.61
    • aaveAave (AAVE) $ 214.38
    • okbOKB (OKB) $ 53.42
    • ondo-financeOndo (ONDO) $ 0.990953
    • internet-computerInternet Computer (ICP) $ 5.56
    • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
    • ethereum-classicEthereum Classic (ETC) $ 19.18
    • kaspaKaspa (KAS) $ 0.109800
    • crypto-com-chainCronos (CRO) $ 0.096818
    • tokenize-xchangeTokenize Xchange (TKX) $ 34.29
    • bitcoinBitcoin (BTC) $ 102,247.00
    • ethereumEthereum (ETH) $ 2,442.48
    • tetherTether (USDT) $ 1.00
    • xrpXRP (XRP) $ 2.45
    • bnbBNB (BNB) $ 648.59
    • solanaSolana (SOL) $ 170.12
    • usd-coinUSDC (USDC) $ 1.00
    • dogecoinDogecoin (DOGE) $ 0.221029
    • cardanoCardano (ADA) $ 0.787531
    • tronTRON (TRX) $ 0.263410
    • staked-etherLido Staked Ether (STETH) $ 2,441.67
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 102,324.00
    • suiSui (SUI) $ 3.87
    • chainlinkChainlink (LINK) $ 16.32
    • wrapped-stethWrapped stETH (WSTETH) $ 2,930.65
    • avalanche-2Avalanche (AVAX) $ 23.93
    • stellarStellar (XLM) $ 0.301656
    • shiba-inuShiba Inu (SHIB) $ 0.000015
    • hedera-hashgraphHedera (HBAR) $ 0.205305
    • the-open-networkToncoin (TON) $ 3.26
    • leo-tokenLEO Token (LEO) $ 8.60
    • hyperliquidHyperliquid (HYPE) $ 23.67
    • bitcoin-cashBitcoin Cash (BCH) $ 398.72
    • litecoinLitecoin (LTC) $ 100.57
    • pi-networkPi Network (PI) $ 1.06
    • polkadotPolkadot (DOT) $ 4.90
    • usdsUSDS (USDS) $ 0.999898
    • wethWETH (WETH) $ 2,446.36
    • moneroMonero (XMR) $ 334.91
    • wrapped-eethWrapped eETH (WEETH) $ 2,605.21
    • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
    • pepePepe (PEPE) $ 0.000013
    • bitget-tokenBitget Token (BGB) $ 4.64
    • ethena-usdeEthena USDe (USDE) $ 1.00
    • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 102,329.00
    • whitebitWhiteBIT Coin (WBT) $ 30.17
    • uniswapUniswap (UNI) $ 6.65
    • bittensorBittensor (TAO) $ 450.43
    • nearNEAR Protocol (NEAR) $ 3.05
    • daiDai (DAI) $ 1.00
    • aptosAptos (APT) $ 5.61
    • aaveAave (AAVE) $ 214.38
    • okbOKB (OKB) $ 53.42
    • ondo-financeOndo (ONDO) $ 0.990953
    • internet-computerInternet Computer (ICP) $ 5.56
    • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
    • ethereum-classicEthereum Classic (ETC) $ 19.18
    • kaspaKaspa (KAS) $ 0.109800
    • crypto-com-chainCronos (CRO) $ 0.096818
    • tokenize-xchangeTokenize Xchange (TKX) $ 34.29