Digital Currency

Add as a preferred source on Google

Solana's $105.47 Hourly Close Misses Chart's Recovery Signal

The Oct. 19 chart required a completed hourly close above $105.63. A close below $105.29 would signal renewed weakness.

Updated 2 min read
An anonymous commuter checks a crypto price chart near Federal Hall on Wall Street in New York City. / TokenPost.ai
An anonymous commuter checks a crypto price chart near Federal Hall on Wall Street in New York City. / TokenPost.ai

Solana (SOL) finished the last completed hour at $105.47 in an Oct. 19 technical reading, short of a recovery signal that required the hourly close to exceed $105.63.

The same chart set a completed hourly close below $105.29 as its condition for renewed weakness. The $105.47 finish met neither condition.

At 10:39 a.m. ET (14:39 UTC), a separate Oct. 19 quote placed SOL at $103.74. Its 24-hour low was $100.51, and its high was $105.91. The $105.43 price used in the technical reading had no matching observation time, so it cannot be placed before or after the timed quote.

At $105.43, SOL was below two daily exponential moving averages (EMAs): $109.47 over 20 days and $106.89 over 50 days. The 200-day EMA was lower, at $95.57. The daily relative strength index (RSI) measured 38.8. The moving average convergence-divergence (MACD) histogram remained negative, though its readings narrowed over three completed periods.

The hourly measures differed. The 200-hour EMA stood at $106.43, above the $105.43 chart price, while the 20-hour and 50-hour EMAs were lower, at $104.54 and $104.17. Hourly RSI was 62.0, and the positive MACD histogram was shrinking.

EconoTimes covered Solana's $100 chart threshold after SOL traded at $102.19 on Oct. 15 following a 5.1% decline over 24 hours. The newer snapshot's $100.51 low remained above that level.

The next completed hourly close is the chart's next test of the $105.63 recovery condition and the $105.29 weakness condition.

Related articles

View all