SOL Closes at a 30-Day Low. What Would a Close Under $92.50 Mean?
SOL trades near $94.9 after its lowest finish in 30 days. Trading was thin, and the price sits about 3% above a $92.50 floor.
By Shitij GuptaResearcher
SOL trades near $94.9 after a month of steady losses. The price is down about 20% over the past 30 days.
Its last price on 1 November was the lowest of those 30 days. That finish now sits just above a level that has stopped the price before.
The price closed at its lowest in a month. Source: Binance SOL/USDT daily prices, to the 1 November daily close, computed by www.altcoinbuzz.io.
SOL Slid Through October, Then Ended Lower on Thin Trading
The slide built over weeks rather than in a single session. SOL was down about 19% in October.
Last week ended at $94.53, the lowest weekly finish since the week of 10 August.
Trading volume, the total value bought and sold, came to $74.7 million on Binance on 1 November. That was about 60% below its 20-day average.
The price is also about 68% below its highest on Binance. That high of $295.83 was set on 19 January 2025. How far the price sits under its record shows how much of the past rise has been given back.
SOL Sits About 3% Above Its $92.50 Floor
The nearest level in the price's path is $92.50, about 3% below. It is a floor, a price where falls have stopped before.
It was a ceiling until the price rose over it, and has turned the price 6 times since mid February.
The last of those turns came on 11 May.
Two Levels Bracket SOL's Price, About 3% Each Way
Above the price sits a ceiling at $97.30, about 3% above. A ceiling is a price where rises have stopped before.
A daily close is the last price of the day. A daily close above $97.30 would put SOL back over that ceiling. It would leave the next ceiling at $113.16, about 19% above.
A daily close below $92.50 would put SOL under its floor. It would leave the next floor at $83.98, about 12% below.
The price sits about 3% above its $92.50 floor. Source: Binance SOL/USDT daily prices, to the 1 November daily close, computed by www.altcoinbuzz.io.
SOL now trades between $97.30 overhead and $92.50 underneath. The next daily close beyond either one would show which of the two levels gave way.
Shitij Gupta
Shitij Gupta is an analyst and a researcher at Altcoin Buzz. Shitij has a vast banking experience at companies such as Morgan Stanley, ETRADE and UBS. He primarily built banking and lending products, Robo Advising solutions and Mutual Fund offerings for High Net worth clients. After his stint on Wall Street, Shitij runs a family office fund and consults businesses on strategy and execution.
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