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SOL and ADA Price Analysis for January 30

Mon, 01/30/2023 - 16:11
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Denys Serhiichuk
Has altcoin market reached overbought zone yet?
SOL and ADA Price Analysis for January 30
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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.

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Bulls could not continue the weekend's rise, and all of the top 10 coins are in the red zone.

Top coins by CoinMarketCap


The rate of Cardano (ADA) has dropped by 2.17% over the last 24 hours.

ADA/USD chart by TradingView

On the daily chart, the rate of Cardano (ADA) has bounced off the resistance at $0.3980. At the moment, the price is trading near the support level at $0.3780. However, if the daily closure happens near it, the drop may lead to the test of the $0.36 area shortly.

ADA is trading at $0.3811 at press time.


Solana (SOL) is less of a loser than Cardano (ADA), going down by 1%.

SOL/USD chart by TradingView

On the daily time frame, the price of Solana (SOL) has come back to the support at $23.65. The selling volume has increased, which means that bears may have locally seized the initiative.

Bitcoin (BTC) Price Analysis for January 29

In this case, the breakout of the mentioned mark may be a prerequisite for a fall to the $22 zone. Such a scenario is relevant until mid-February.

SOL is trading at $24.30 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at