{"id":94271,"date":"2023-02-13T13:28:07","date_gmt":"2023-02-13T13:28:07","guid":{"rendered":"https:\/\/dripp.zone\/news\/index.php\/2023\/02\/13\/heres-how-solana-coin-may-resume-its-prior-recovery-enter-now-crypto-news\/"},"modified":"2023-02-13T13:28:08","modified_gmt":"2023-02-13T13:28:08","slug":"heres-how-solana-coin-may-resume-its-prior-recovery-enter-now-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/heres-how-solana-coin-may-resume-its-prior-recovery-enter-now-crypto-news\/","title":{"rendered":"Here&#8217;s How Solana Coin May Resume Its Prior Recovery;  Enter Now?\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-138630\">\n<div class=\"marketThumbs\">\n             <noscript><img loading=\"lazy\" width=\"1200\" height=\"800\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/01\/04163352\/solana-price.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"solana price\" decoding=\"async\"\/><\/noscript><\/div>\n<p class=\"MarketsUp f-14 d-block\">Published 11 minutes ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">Over the last two weeks, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/solana\/#:~:text=SOL%20Price%20Trends%20%3A,in%20the%20last%2024%20hours.\">Solana coin price<\/a> witnessed a steady downfall in the daily time frame.  The coin price is showcasing a series of lower highs and lower lows formation within the two downsloping trendlines.  However, this correction phase is part of a famous bullish continuation pattern called the &#8216;Flag pattern&#8217; and may offer significant growth upon its completion.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<h2><span style=\"font-weight: 400;\">Key Points<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">During flag pattern formation, a bullish breakout from the overhead trendline is often interpreted as a sign that the prior uptrend is likely to resume.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The SOL price is gaining strong support from the $20 footing.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The 24-hour trading volume in the Solana coin is $812.2 Million, indicating a 217% gain.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Solana Coin \" width=\"1946\" height=\"1104\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/h\/HW3JVGOz.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/h\/HW3JVGOz.png\" alt=\"Solana Coin \" width=\"1946\" height=\"1104\"\/><\/noscript>Source-<\/span><span style=\"font-weight: 400;\">tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The flag pattern is typically seen as a bullish continuation pattern, which implies that after a sharp price rally, the market may be due for a period of consolidation or correction.  This period of consolidation is essential for the coin price to recuperate the bullish momentum and is represented by the \u201cflag\u201d portion of the pattern.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the last two weeks, the Solana coin has tumbled 22.76% and reached the current price of $20.5.  As of now, local support is holding up the SOL price and preventing further downfall.  However, until this pattern is intact the coin price may prolong the ongoing downfall.<\/span><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/\">Top Crypto Marketing Firms \/ Agencies 2023;  Here&#8217;s the Best Picks<\/a><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, the sidelined traders looking for a long entry opportunity should wait for a breakout from the overhead trendline.  This breakout will signal replenished bullish momentum and a higher probability for recovery continuation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In ideal bullish conditions, this breakout could drive the SOL price to the November 2022 peak of $36.68.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">technical indicators<\/span><\/h2>\n<p><b>RSI<\/b><span style=\"font-weight: 400;\">: the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/rsi-relative-strength-index\/\">daily-RSI slope<\/a> Breakdown from the midline accentuates the selling pressure is currently high.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p><b>EMA&#8217;s<\/b><span style=\"font-weight: 400;\">: the 20-day EMA slope is flipped into a resistance assisting sellers in extending the ongoing correction.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Solana Coin Price Intraday Level<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Spot price: $20.55<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Trend: Bearish<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Volatility: Moderate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Resistance levels: $22.6 and $26.7<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Support levels: $20 and $18<\/span><\/li>\n<\/ul><\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA138630\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>From the past 5 years I am working in Journalism.  I follow the Blockchain &#038; Cryptocurrency from last 3 years.  I have written on a variety of different topics including fashion, beauty, entertainment, and finance.  raech out to me at brian(at)coingape.com                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=120&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-60 photo\" height=\"60\" width=\"60\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=60&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=60&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=120&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-60 photo\" height=\"60\" width=\"60\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD138630\">\n<p>    The content presented may include the personal opinion of the author and is subject to market conditions.  Do your market research before investing in cryptocurrencies.  The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>                <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Published 11 minutes ago Over the last two weeks, the Solana coin price witnessed a steady downfall in the daily time frame. The coin price is showcasing a series of lower highs and lower lows formation within the two downsloping trendlines. However, this correction phase is part of a famous bullish continuation pattern called the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":74797,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-94271","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/94271","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=94271"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/94271\/revisions"}],"predecessor-version":[{"id":94272,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/94271\/revisions\/94272"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/74797"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=94271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=94271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=94271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}