SOLANA - how far will it drop? Waiting for a re-entry to buy
As expected the price bit the sell block around $220 and started to come down. The daily candled reached the previous week high, rolled back down, closed below the previous month mid, closed below previous week mid and closed below $202 which was the strong resistance line in March 2024).
Daily MACD almost entered the bull zone and both RSI and Stochastic are rolling downwards. The price will likely drop to the previous week low at $186 and if it doesn't rebounce there the next stop will be the previous month low at $174.
My general bias for Solana is bullish so I am only waiting for an opportunity for re-entry to buy. It is such a volatile market that I will make a trading decision based on momentum indicators and key support/resistance levels in the weekly and daily timeframes.
Daily MACD almost entered the bull zone and both RSI and Stochastic are rolling downwards. The price will likely drop to the previous week low at $186 and if it doesn't rebounce there the next stop will be the previous month low at $174.
My general bias for Solana is bullish so I am only waiting for an opportunity for re-entry to buy. It is such a volatile market that I will make a trading decision based on momentum indicators and key support/resistance levels in the weekly and daily timeframes.
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