$SOL ( Solana )/ USDT Technical Indicators - June 16, 2024

The technical indicators for Solana (SOL) against Tether (USDT) as of June 16, 2024, present a predominantly negative outlook.

Technical Indicators

The Relative Strength Index (RSI) stands at 38.146, indicating negative momentum. The Stochastic Oscillator (STOCH) reads 22.604, while the Stochastic RSI (STOCHRSI) is at 7.507, signaling oversold conditions. The Moving Average Convergence Divergence (MACD) at -3.604 further supports a negative trend. The Average Directional Index (ADX) at 44.911 suggests a strong trend. Williams %R at -87.46 indicates that the asset is oversold. The Commodity Channel Index (CCI) at -121.1237 reinforces the downward trend.

The Average True Range (ATR) at 8.0708 points to high volatility. The Highs/Lows (14) at -9.5964, the Ultimate Oscillator at 41.99, and the Rate of Change (ROC) at -11.582 all reflect a downward trend. The Bull/Bear Power indicator at -19.2202 further confirms the negative outlook.

Moving Averages

The summary of moving averages also indicates a strong negative sentiment. The MA5 at 147.075 (simple) and 147.138 (exponential), MA10 at 152.624 (simple) and 151.727 (exponential), MA20 at 160.270 (simple) and 156.454 (exponential), MA50 at 157.053 (simple) and 160.135 (exponential), and MA100 at 162.544 (simple) and 151.570 (exponential) all reflect a downward trend. The MA200 at 130.038 (simple) and 129.000 (exponential) are the only indicators suggesting a positive outlook.

Pivot Points

The pivot points analysis identifies critical support and resistance levels, with the central pivot point at 144.716. Support levels are at 141.02, 141.991, and 143.745, while resistance levels are at 146.47, 147.441, and 149.196.

Overall, the technical indicators for Solana/USDT on June 16, 2024, highlight a strong negative trend, with multiple indicators pointing to continued downward pressure.$SOL #solana #Solana_technical_indicators