SOL Rests on Its $92.50 Floor: Will the Price Stay Above It?

SOL trades near $92.3, on its $92.50 floor. A floor is a price where falls have stopped before.

The price is down about 9% over the past 7 days. It now sits right on that floor, with no gap left between the two. That leaves SOL testing a level it has met before. Can it stay above it?

SOL Sits Right on a Floor It Has Met Before

The $92.50 level was a ceiling until the price rose over it. A ceiling is a price where rises have stopped before.

Since mid February, the level has turned the price 6 times. Its last turn came on 11 May.

The floor sits right at the price now. On 2 November, the price fell about 3%. It ended that day at its lowest level in 30 days.

Over the past month, the price traded between $90.87 and $122.29. A finish outside that range would be news.

The price sits right on its $92.50 floor. Source: Binance SOL/USDT daily prices, to the 2 November daily close, computed by www.altcoinbuzz.io.

Steady Trading Met SOL at Its $92.50 Floor

Trading volume is the total value bought and sold. On Binance, trading on 2 November came to $178 million.

That figure was close to its 20-day average. What would settle the test at $92.50?

SOL Between $92.50 and $97.30: What Ends the Test

A daily close is the last price of the day. The nearest ceiling sits at $97.30, about 5% above the price now.

A daily close above $97.30 would put the price back over that ceiling. The next level above it is $113.16, about 23% above the price now.

A daily close below $92.50 would break the floor SOL rests on today. The next level below it is $83.98, about 9% below the price now.

A daily close below $92.50 or above $97.30 would settle the test. Source: Binance SOL/USDT daily prices, to the 2 November daily close, computed by www.altcoinbuzz.io.

SOL rests between a $92.50 floor and a $97.30 ceiling. A daily close beyond either one would end this test.