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25.11.202205:13 Forex Analysis & Reviews: Technical Analysis of the Daily Price Movement of the Crypto Currency Solana Friday, November 25, 2022.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 25.11.2022 analysis

If we look at the daily chart, Solana's Cryptocurrency is clearly still moving in a bearish pressure condition, this can be seen from the price movement that moves in the Bearish channel and is below the Moving Average, even though in the next few days Solana has the potential to be corrected by the upward rally where it this is confirmed by:

1. There is a Falling Wedge pattern.

2. There is a deviation between price movements and the CCI indicator.

Based on the two things above, it can be concluded that Solana in the near future will appreciate to the level of 18.24 as the main target and if the momentum and volatility support it then the next level to be tested is 30.82 but before that Solana also has the potential to go down for a while to gain momentum to rally upwards. where the level to be tested is the 12.96-11.26 area as long as the decline does not break below the 11.08 level, the upward correction scenario is still running.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
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