SOL Price (Solana) Signals Short-Term Top, Here Are Key Supports To Watch
10 Diciembre 2023 - 11:58PM
NEWSBTC
Solana surged toward $80 before the bears appeared. SOL price is
now correcting gains but the bulls might remain active near the $65
support. SOL price started a major rally above the $65 resistance
before the bears appeared against the US Dollar. The price is now
trading above $65 and the 100 simple moving average (4 hours).
There is a key bullish trend line forming with support near $65.00
on the 4-hour chart of the SOL/USD pair (data source from Kraken).
The pair could accelerate lower if there is a clear move below the
$55.00 support. Solana Price Starts Downside Correction In the past
few days, Solana saw a major rally above the $60 level. SOL gained
bullish momentum after it settled above $65, like Bitcoin and
Ethereum. The bulls even pumped the price above the $72 level. A
high was formed near $77.72 and the price recently saw a downside
correction. It traded below $72 and tested $70. The bears were able
to push the price below the 23.6% Fib retracement level of the
upward move from the $53.50 swing low to the $77.72 high. SOL is
still trading above $66 and the 100 simple moving average (4
hours). There is also a key bullish trend line forming with support
near $65.00 on the 4-hour chart of the SOL/USD pair. The trend line
is near the 50% Fib retracement level of the upward move from the
$53.50 swing low to the $77.72 high. On the upside, immediate
resistance is near the $72.00 level. The first major resistance is
near the $75.00 level. Source: SOLUSD on TradingView.com The main
resistance is now near $78. A successful close above the $78
resistance could set the pace for a larger increase. The next key
resistance is near $82.50. Any more gains might send the price
toward the $86.52 level. More Losses in SOL? If SOL fails to
recover above the $72.00 resistance, it could continue to move
down. Initial support on the downside is near the $68.00 level. The
first major support is near the $65.00 level or the trend line,
below which the price could test $62. If there is a close below the
$62 support, the price could decline toward the $55 support in the
near term. Technical Indicators 4-Hours MACD – The MACD for SOL/USD
is gaining pace in the bearish zone. 4-Hours RSI (Relative Strength
Index) – The RSI for SOL/USD is below the 50 level. Major Support
Levels – $65.00, and $62.00. Major Resistance Levels – $72.00,
$75.00, and $78.00.
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