As a seasoned analyst with over two decades of market experience under my belt, I have seen numerous bull and bear markets come and go. Today, I find myself analyzing Solana (SOL), a coin that has been on my radar for quite some time now.
Based on CoinStats’ analysis, the overall market trend is predominantly down (red), but there are a few instances where this general rule doesn’t apply.
SOL/USD
The rate of Solana (SOL) has declined by 1.8% since yesterday.
On an hourly timeframe, the value of SOL is shattering the nearby resistance at approximately $185.58. Should the day’s candlestick end beneath this level, it suggests the downward trend could extend towards the $180 region in the near future.
As a crypto investor, I prioritize keeping an eye on the closing candles, particularly focusing on whether they close above or below yesterday’s low on a larger time frame. This can provide valuable insights into potential market trends.
If it happens, traders may witness a test of the $175.26 level within the next few days.
On the weekly graph, the outlook seems leaner towards a downtrend rather than an uptrend. Should the price approach the upcoming support at approximately $175.26, it may potentially breach this level, leading to a possible continuation down to around the $160 region for further correction.
SOL is trading at $184.75 at press time.
Read More
- REPO: All Guns & How To Get Them
- REPO: How To Play Online With Friends
- All Balatro Cheats (Developer Debug Menu)
- Top 5 Swords in Kingdom Come Deliverance 2
- 6 Best Mechs for Beginners in Mecha Break to Dominate Matches!
- Unleash Willow’s Power: The Ultimate Build for Reverse: 1999!
- LUNC PREDICTION. LUNC cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- POL PREDICTION. POL cryptocurrency
- Tides of Annihilation
2024-12-27 18:50