SOLV update :
* Next Move of Trend: The chart shows the price currently testing a resistance level around $0.04327. The series of higher lows suggests bullish momentum. A break above this resistance could lead to a further upward move, potentially towards the next resistance level around $0.04546 or even higher towards the $0.04805 high. However, failure to break this resistance could result in a pullback towards the ascending trendline (red line) or the support level at $0.04140. The Relative Strength Index (RSI) is around 53.69, indicating neither overbought nor oversold conditions, leaving room for movement in either direction.
* Next Move of Trend According to SMC & Psychological Factors:
* Smart Money Concepts (SMC): To apply SMC, we would look for potential order blocks or areas of significant institutional buying or selling. The recent push upwards suggests potential accumulation by smart money. A break above the $0.04327 resistance could confirm this, with this level potentially acting as a breaker block if the price decisively moves above it. Look for reactions at the high of $0.04805 as a potential area where smart money might take profit or initiate reversals.
* Psychological Factors: The recent positive price action (+3.07% today) and the formation of higher lows might induce FOMO (Fear Of Missing Out) in traders, encouraging more buying pressure if the resistance breaks. Conversely, if the price fails to break the resistance, traders who bought near the high might experience fear and sell, leading to a pullback. The $0.0400 psychological level could act as a significant support.