Solana’s (SOL) upward correction is running into resistance at the 21-day SMA. Price analysis by Coinidol.com.
Isibikezelo sesikhathi eside sentengo ye-Solana: bearish
Solana (SOL) prices have rebounded after hitting a low of $115 on April 13, 2024. Bulls bought the dips and the altcoin found support above the breakout price of $126.
I-altcoin was in an upward correction last week trading below the moving average lines but above the $126 support level.
If buyers keep the price above the moving average lines, SOL will reach its previous high of $210. However, the altcoin will invalidate the bullish scenario by falling to an area below the recent high. Solana is now worth $156.24.
Ukuhlaziywa kwenkomba yentengo ye-Solana
The price bars on the 4-hour chart are above the moving average lines, reflecting the recent rally in the market. Solana’s upward movement is hindered as it is in the bearish trend zone. Doji candlesticks are limiting and delaying price fluctuations.
Izinkomba zezobuchwepheshe
Izindawo zokunikezela ezibalulekile: $100, $120, $140
Izindawo ezidingekayo ezibalulekile: $80, $60, $40
Yisiphi isinyathelo esilandelayo sikaSolana?
Solana is trading above the breakout level of $126. In its first upward correction after the plunge, the altcoin has encountered resistance at $159. The altcoin will fall and stay within its trading range, waiting for the timing of a possible breakout.
Umshwana wokuzihlangula. Lokhu kuhlaziya kanye nesibikezelo kuyimibono yomuntu siqu yombhali futhi akusona isincomo sokuthenga noma ukuthengisa i-cryptocurrency futhi akufanele kubhekwe njengokugunyazwa yi-CoinIdol.com. Abafundi kufanele benze ucwaningo lwabo ngaphambi kokutshala izimali.
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- Source: https://coinidol.com/solana-encounters-resistance/
