Analysing the current Solana price, the picture shows a world where the bears have reacted to the consolidation of the coin and have pushed the price down to $20.66. This minor decline has happened despite the fact the bulls had been performing well for the previous two days. The 1-day analysis of the Solana price showed a decrease in the value of the currency by over 2.58%, a drop of 0.90% in the past 7 days.

Looking at the 4-hour analysis, the moving average was slightly higher at $20.83, with the average line of the Bollinger Bands being placed at $21.08. The relative strength index was also slightly lower and stood at 48 indicating the dominance of sellers in the market. The lower band of the Bollinger Bands, stating the support for the declining SOL price, was seen at $19.72 and the upper band representing the resistance was placed at $22.44.

As the hourly chart showed a small green candlestick, it was a sign of support for the SOL price. However, the bears regained back the control and released a bearish momentum pushing the SOL price again down to $20.66. This also caused a convergence of the Bollinger bands with the upper band going up to $21.33 and the lower band reaching a total of $20.21. The RSI also leveled off and showed an index of 45, showing signs of the emergence of the bullish support.

To conclude, the analysis of the Solana price saw the bearish tendencies take back the control due to exhaustion from the bulls. Furthermore, the RSI curve showed a descent in the score, signaling the presence of sellers in the market. Although a drop in the SOL price has been seen, the support of the bulls indicates that the trading period may see a revival in the trend.



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