Solana's recent price action suggests a consolidation at a significant resistance level. The Relative Strength Index (RSI) has retreated from overbought conditions, indicating a potential easing of buying pressure. While currently holding resistance, a good hold near current zones could lead to a test of lower support levels, with the first notable support zone around a 26% decline from the resistance. However, if the resistance gives way to a bullish push, we could see an attempt to reach higher liquidity zones.
As SOL oscillates at this crucial level, we maintain vigilance for a clear directional move.
As SOL oscillates at this crucial level, we maintain vigilance for a clear directional move.
Note
Sol has two possible movements now due to the fact that yesterday's candle got closed below resistance and a new one is pushing through.
If we see new daily candle secure the resistance, there are high chances of breakout happening (clear one)
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🚨 Authentic Traders
⚡️ Short-Term + Mid-Term Trades
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.