Connect with us
Active Currencies 14281
Market Cap $2,483,630,814,289.90
Bitcoin Share 51.95%
24h Market Cap Change $-1.03

MATIC, Filecoin and Solana Price Analysis: July 27

2min Read
MATIC, Filecoin and Solana Price Analysis: July 27

Share this article

After yesterday’s pump, cryptocurrencies have fallen into the red. Despite price corrections, Bitcoin’s reversal exerted pressure on other altcoins considerably. MATIC’s trading volume fell and its buying pressure depleted. Filecoin did not flash signs of increased volatility and lastly, Solana’s current price action could possibly witness a consolidation soon. 


MATIC, Filecoin and Solana Price Analysis: July 27

MATIC/USD, TradingView

MATIC’s prices at the time of writing rested around the $1.01 level. If prices continue on the downward movement, the coin could trade below $1.00, the coin lost 7.5% of its value over the last 24 hours. The trading volume of Matic fell by 13.68% which explained the dip in buying pressure in the market. 

Chaikin Money Flow showed that capital inflows dipped quite a bit. Bullish momentum faded and bearish signal grew on the MACD indicator as the coin underwent a bearish crossover today. 

A weakened price trend was seen as Average Directional Index was spotted near the 20-mark. If prices remain around the same level, MATIC could again display trendless price action. 


MATIC, Filecoin and Solana Price Analysis: July 27

FIL/USD, TradingView

On a weekly chart, Filecoin recovered 8% of its lost value. The price volatility of FIL could remain stable considering how the Bollinger Bands remained parallel with a slight convergence at press time. 

The Relative Strength Index pictured a sharp fall in buying pressure since yesterday, however, at press time, the indicator slightly rose suggesting buyers came back into the market slowly. 

Squeeze Momentum Indicator indicated that volatility was low as the market entered a squeeze and also that if prices continued to fall, it would amount to a shorting opportunity. 


MATIC, Filecoin and Solana Price Analysis: July 27

SOL/USD, TradingView

Solana gained 13.1% over the last 24 hours; however, it followed the steps of other altcoins and registered a fall of 3.6%. At press time, the coin was priced $28.39. The coin’s movement post the recovery period of July 21 has been slow and steady, however, the bulls lost strength as the coin has rejected the resistance level of $31.

Relative Strength Index showed an upward movement, meaning that buyers came back to the market. Average Directional Index neared the 20-mark, which meant that Solana could again be entering a price consolidation and trade within a restricted range. 

Bearish pressure was still quite present in the market, however, on Awesome Oscillator, the red signal bars declined in size. 


Anushmita is a full-time journalist at AMBCrypto with a background in Mass Communication. She is inclined towards writing about the socio-political aspects of the crypto market and also has an interest in analyzing market trends.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.