Solana (SOL) Price Analysis for March 30

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Neither buyers nor sellers have turned out to be more powerful today, according to the CoinMarketCap ranking.

SOL/USD

The price of Solana (SOL) has gone down by 1.74%.

On the hourly chart, traders should pay attention to the local support level at $20.52. If the bears’ pressure continues and the candle closes near it or even below it, the breakout may lead to the test of the $20 zone shortly.

Sellers are more powerful than buyers on the daily time frame, as the price is on the way to the support at $19.42.

If the decline continues to $20, there is a high possibility to see a sharp downward move to the $18-$19 zone at the beginning of April.

On the weekly chart, the price of Solana (SOL) has once again bounced off the support level at $19.68. If the situation does not change, the accumulated energy might be enough for an ongoing drop to the nearest support at $16.

SOL is trading at $20.50 at press time.