#HOTTRENDS #solona Technical Analysis
Moving Average
1. On the four-hour time frame, Solana is currently trending bullish with the 50 day moving average currently sloping up.
2. On the 1 day time frame, Solana is currently trending bullish with the 50 day moving average currently sloping up and below the current Solana price, which could act as a support the next time it interacts with it.
3.Solana’s 200 day moving average is sloping up and has been doing so since 2/12/2024 which means the trend is strong.
4.The 200 daily moving average is currently below the price, which means if price interacts with it again, it can potentially be used as a support to continue the trend.
5. On the 1 day time frame, if we were to give a Solana price prediction, it would be bearish considering the way the 50 day and 200 day moving averages are bullish.
6. On the weekly time frame, Solana is currently trending bullish with the 50 day moving average currently sloping up and below the current Solana price, which could act as a support the next time it interacts with it.
Relative Strength Index
=> Currently the RSI is above the 30-70 neutral zone, which indicates the price is trending overbought with the price being able to keep RSI in that state for a while.
