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Solana (SOL) Price Analysis for December 24

Sat, 12/24/2022 - 21:00
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Denys Serhiichuk
Does Solana (SOL) have enough power for reversal?
Solana (SOL) Price Analysis for December 24
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The prices of most cryptocurrencies are falling, however, there are some exceptions.

Top 10 coins by CoinMarketCap


Solana (SOL) has lost a lot of value today, falling by 4.44%.

SOL/USD chart by TradingView

On the hourly chart, Solana (SOL) has set the support at $11.07 and the resistance at $11.40. At the moment, the rate is close to the upper level, which means that bulls might have found the local bottom.

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If nothing changes, a breakout of the resistance may lead to growth to the $11.60-$11.70 zone.

SOL/USD chart by TradingView

On the daily chart, there are no reversal signals yet. Traders should focus on the important level at $11, a breakout of which could cause a fall to the $10.80 mark. Such a scenario is relevant until the end of the upcoming week.

SOL/USD chart by TradingView

On the weekly time frame, Solana (SOL) is ready to keep falling if the candle closes near or below the $11 mark. If that happens, the next stop where bulls may seize the initiative is the support at $9.10.

SOL is trading at $11.35 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