Solana (SOL) Technical Analysis
1. Current Price and Market Options
- Solana's price is currently trading between $148.67 and $151.55, with a slight decrease of ≈1% over the past 24 hours. However, on the short-term (12-hour) timeframe, data indicates limited volatility around the $150 level, with resistance at $151.55 and a consolidated level at $148.57.
2. Lower Structure and Required Levels
- Support Areas:
- Support for the Balance: $148.57 (24-hour low).
- Resistance Areas:
- Nearby Resistance: $151.55 (24-hour high).
3. Technical Indicators
- Charts:
- It is currently trading above the 50-day EMA on the daily chart, supporting a short-term bullish outlook, but it remains below the 200-day EMA, indicating long-term bearish pressure.
- Relative Strength Index (RSI):
- The hourly (1H) RSI shows a reading of ≈55, indicating neutral momentum with a potential buy signal if it exceeds 60.
- Other Omissions:
- MACD signals indicate convergence between the lines, which could always herald a strong price movement (bullish or bearish).
4. Possible Play Scenarios
- Schematic:
- Trigger Conditions: Price close above $151.55 with increased trading volume.
- Resistance: $154 (short), then $160 (61.8% Fibonacci retracement point).
- Setting up for setup:
- Trigger conditions: Breaking the support at $148.57 with bearish reversal confirmation.
- Deficit: $142 (50% Fibonacci retracement zone), then $134.63.
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Finally:
During the 12-hour period of the new generation, Solana's price has been confined to a narrow range, testing immediate freedom-preserving levels. Short positions are dependent on everyone breaking this level, contributing to an integral part of the current action. It is recommended to trade by monitoring the trading volume and password before conducting investigations.
