Machine learning algorithm predicts the increase in the Solana Prize by the end of July 2023

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Algorithmus für maschinelles Lernen legt den Solana-Preis für den 31. Juli 2023 fest Da ein großer Teil des Kryptowährungssektors die Woche mit einer rückläufigen Stimmung beginnt, bildet Solana (SOL) keine Ausnahme und verzeichnete allein in den letzten 24 Stunden einen Rückgang von über 5 %. Aber Maschinenalgorithmen sagen eine bessere Situation für diesen digitalen Vermögenswert voraus bis Ende Juli. Tatsächlich sind es die fortschrittlichen Algorithmen für maschinelles Lernen, die von der Krypto-Analyseplattform verwendet werden Preisvorhersagen haben den Preis von Solana für den 31. Juli 2023 auf 21,28 US-Dollar festgelegt, was einem leichten Anstieg von 2,7 % gegenüber dem aktuellen Preis …
Algorithm for machine learning defines the Solana Prize for July 31, 2023. Since a large part of the cryptocurrency sector begins the week with a declining mood, Solana (Sol) is no exception and has recorded a decrease of over 5 %in the last 24 hours alone. But machine algorithms predict a better situation for this digital asset until the end of July. In fact, it is the advanced algorithms for machine learning that are used by the crypto analysis platform Price predictions have set the Solana price for July 31, 2023 to $ 21.28, which is slightly increase of 2.7 % compared to the current price ... (Symbolbild/KNAT)

algorithm for machine learning places the Solana Prize for July 31, 2023

Since a large part of the cryptocurrency sector begins the week with a declining mood, Solana (Sol) is no exception and has recorded a decrease of over 5 %in the last 24 hours alone. But machine algorithms predict a better situation for this digital asset by the end of July.

In fact, it is the advanced algorithms for machine learning that are used by the crypto analysis platform Price forecasts have set the Solana price for July 31, 2023 to 21.28 US dollars, which corresponds to a slight increase of 2.7 % compared to the current price, as can be found out of the latest information that Coinphony has called on July 10th.

In order to achieve this forecast, the algorithms of the platform use a detailed analysis of a series of indicators of technical analysis (TA), including Average True Range (ATR), Bollinger-Libe (BB), Moving Average Conergence Divergence (MACD) and Relative Strength Index (RSI), and more.

Solana price analysis

From today's perspective, Solana is traded at a price of $ 20.72, which means a decrease of 4.68 % throughout the day, but still an increase of 7.26 % last week and an increase of 42.65 % on the month, since the support is $ 19.23, according to the latest data of July 10, a resistance of $ 22.75

In the meantime, the 1-day voting indicators are displayed on the website for monitoring finance and cryptocurrencies. Coinphony previously reported that more than $ 1 billion flowed into the market capitalization of Solana on a single day, which led to a considerable buying pressure without clear catalyst, but collapsed with several important network partnerships, including that between Coca-Cola (NYSE: KO) in Serbia and Solana platform for non-fungal tokens (NFT) Solsea for NFT offers During the Exit Festival.

In summary, it can be said that the above -mentioned developments around Solana could in fact that the price reaches the threshold predicted by the machine algorithms for at the end of July, in addition to other positive news and the general atmosphere in the broader cryptom market at this point.

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The contribution "Algorithm for machine learning sets the Solana Prize for July 31, 2023" first appeared on Coinphony.