SOL Price May Hit $30 Low; Buy TAMA and Hold

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The Solana (SOL) price prediction heads to the downside as the dip is likely to get worsen because of a recent decline in the crypto world.

Solana Prediction Statistics Data:

  • Solana price now – $32.15
  • Solana market cap – $11.4 billion
  • Solana circulating supply – 354.1 million
  • Solana total supply – 511.6 million
  • Solana Coinmarketcap ranking – #9

SOL/USD Market

Key Levels:

Resistance levels: $40, $45, $50

Support levels: $25, $20, $15

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SOL/USD may not be able to follow the bullish movement as the coin remains below the 9-day and 21-day moving averages. The Solana price is currently trading at $32.15, sliding from the high of $33.99 to face the lower boundary of the channel at the time of writing.

Solana May Head to the Downside, Buy Tamadoge and Hold

Looking at the daily chart, the Solana price is moving sideways, any bearish movement towards the lower boundary of the channel may increase the short-term selling pressure while the critical supports may come around $25, $20, and $15. Meanwhile, any bullish movement above the 9-day and 21-day moving averages may reach the next resistance levels at $40, $45, and $50.

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However, the technical indicator could start a new bearish session as the Relative Strength Index (14) moves below the 50-level. It is, however, not clear how long the session will last because, in the last few weeks, both bullish and bearish sessions have been frequent. Therefore, it is important to watch the resistance and support levels coupled with the movement of other indicators within the daily chart.

Against Bitcoin, the market price is ranging as the coin trades at 1647 SAT around the 9-day and 21-day moving averages. Looking at the daily chart, if the coin can make a positive towards the upper boundary of the channel, the bulls may push the price to the upside.

SOLBTC – Daily Chart

However, if the market drops below the moving averages, the next key support may come at 1500 SAT and below. On the bullish side, a possible rise may keep the market above the moving averages to hit the resistance level of 1850 SAT and above. As revealed by the technical indicator, the Relative Strength Index (14) may begin to follow the downward movement as the signal line moves to cross below the 50-level.

The Tamadoge team said that the move aims to make investing in TAMA easy and safe. These users can be confident in transferring fiat into crypto, hence the need for Tamadoge to secure this deal with Transak. One of the strongest pillars of any project in the web 3.0 & crypto sector is having a solid team to see the project succeed. The TAMA website has revealed Thomas Seabrook as the Tamadoge lead developer and Carl Dawkins as the head of growth. The other members of the Tamadoge team include Neil Palethorpe and Siphamandla Mjoli, who have joined as the Senior Interaction Designer and the Senior Blockchain Developer, respectively.

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