Hello to all members of TradingView and my followers.
SOL has been in a bearish trend over the past week. The short-term bullish wave that caused Solana's price to grow continued to the level of $43. But due to the high slope of the downward trend, this price growth faced short-term buyers' reaction and profit savings after covering half of the main wave. The price of Solana at the time of writing this analysis is in the range of $32.
Several important support levels related to the weekly time frame are considered for Solana. Considering that the monthly support is also located at these levels, there is a possibility of a price reaction and a return towards the resistances of $50 and $60. These supports are $26-27.5, which has shown a perfect reaction in the past weeks, and the main range of $19.40-21.7, which is Solana's last important support.
In the case of a sharp drop in the market, the price can touch this range even in the short term, and because this level is located at the bottom of the second descending channel, it will probably be the lowest possible floor. This week, until the support of $31-$30 is not broken, Solana can suffer between this support and $38 resistance.
If it is helpful to you, please like it. If you have a comment, I'll be happy to know. Respectfully.
SOL has been in a bearish trend over the past week. The short-term bullish wave that caused Solana's price to grow continued to the level of $43. But due to the high slope of the downward trend, this price growth faced short-term buyers' reaction and profit savings after covering half of the main wave. The price of Solana at the time of writing this analysis is in the range of $32.
Several important support levels related to the weekly time frame are considered for Solana. Considering that the monthly support is also located at these levels, there is a possibility of a price reaction and a return towards the resistances of $50 and $60. These supports are $26-27.5, which has shown a perfect reaction in the past weeks, and the main range of $19.40-21.7, which is Solana's last important support.
In the case of a sharp drop in the market, the price can touch this range even in the short term, and because this level is located at the bottom of the second descending channel, it will probably be the lowest possible floor. This week, until the support of $31-$30 is not broken, Solana can suffer between this support and $38 resistance.
If it is helpful to you, please like it. If you have a comment, I'll be happy to know. Respectfully.
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