Solana is currently trading at around $192, showing a modest weekly gain of 4%. Over the past month, the price has declined by 3.6%, though it remains up 11.5% year-over-year. Trading volume has dropped significantly, with a 33.6% decrease in the past 24 hours and over 69% over the past month.
Recent price action has been relatively flat, with no strong trend forming. Solana remains in a tight range, with lower volatility and reduced trading activity.
Read also: Why Not Staking Your Solana Might Be Costing You Money
Momentum Indicators
RSI: Neutral
The Relative Strength Index measures whether an asset is overbought or oversold. Solana’s RSI(14) is currently at 46, slightly down from 47 yesterday, and up from 42 a week ago. The short-term RSI(7) is at 49, compared to 51 yesterday. These levels are within the neutral zone and do not indicate a strong directional signal.
MFI: Neutral
The Money Flow Index incorporates both price and volume. MFI(14) is at 45 today, down from 47 yesterday and up from 34 a week ago. The current reading shows no significant accumulation or selling pressure.
Fear & Greed Index: Recovering
This indicator measures general market sentiment. The index has moved from 23 one week ago to 37 today, indicating a shift away from extreme fear but still below neutral.
Read also: How To Use Crypto Fear and Greed Index To Your Advantage?
Moving Averages
SMA & EMA: Bearish
Short-term moving averages are below the longer-term trend. The current SMA(9) is $188 and EMA(9) is $191, both near the current price. Longer-term SMA(26) is $204 and EMA(26) is $199. This setup suggests the market is trading below its longer-term averages.
Bollinger Bands: Low Volatility
Bollinger Bands are used to assess volatility. The upper band is at $229 and the lower band is at $165, with the price sitting near the center. This configuration indicates compressed volatility and potential for stronger movement once a breakout occurs.
Trend & Volatility Indicators
ADX: Weak Trend
The Average Directional Index (ADX) is currently at 20, down from 21 yesterday and 23 a week ago. This level indicates a weak trend with no clear momentum.
ATR: Decreasing Volatility
The Average True Range (ATR), which measures volatility, has declined from 16.0 one week ago to 13.0 today. Lower ATR values indicate reduced price swings.
AO: Improving but Bearish
The Awesome Oscillator (AO) remains in negative territory but has moved from -24.0 a week ago to -16.0 today. The indicator suggests that bearish momentum is slowing.
VWAP: Bearish
The Volume-Weighted Average Price (VWAP) is $201.0, above the current trading price. This shows that recent volume-weighted activity has taken place at a higher average level than where the price is now.
Relative Performance
Comparison Against ETH: Stable
The SOL/ETH ratio is 0.0488. Over the past seven days, it has increased by about 1.2%, while over the past 30 days it has declined by approximately 4.1%. The performance trend appears relatively stable with no significant divergence.
Summary
Current technical indicators show no strong directional bias. Momentum readings are neutral, volatility is decreasing, and trend strength is weak. Moving averages place the price below longer-term averages. While trading activity has slowed, external developments such as ETF listings and institutional interest might bring confidence back.
