Solana's Supply Drops into Negative Territory While BTC, ETH, and XRP Remain Stable
Market Correction Overview: Recent Glassnode data indicates a significant market correction affecting major cryptocurrencies, with Bitcoin, Ethereum, and XRP showing relatively stable loss percentages, while Solana experiences a drastic decline.
Loss Percentages: As of November 25, the percentage of supply in loss is as follows: Bitcoin at 34.91%, XRP at 36.70%, Ethereum at 38.37%, and Solana at a staggering 74.84%.
Investor Sentiment: High levels of loss in Solana suggest increased investor pressure and potential for forced selling, contrasting with Bitcoin's stronger position where about two-thirds of its supply remains in profit.
Signs of Stabilization: Late-November price movements show modest recovery attempts across all assets, indicating a potential stabilization in market sentiment after significant drawdowns, particularly for Solana holders facing the most severe losses.
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Technical Analysis for SOL
Technical Sentiment Analysis for Solana (SOL) As of , Solana (SOL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Solana (SOL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 15.933 | 41.717 | 67.283 | 93.067 | 118.633 | 144.417 | 169.983 |
| Fibonacci | 41.717 | 61.332 | 73.451 | 93.067 | 112.682 | 124.801 | 144.417 |
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