🔍 Solana (SOL) Analysis - Are We in for a Rise?
🔍 Technical Analysis of SOL (1H and 4H Timeframes)
General Trend: The currency is moving in a sideways range between support and resistance levels, indicating a state of market anticipation.
Relative Strength Index (RSI): It is around the 50 level, indicating a balance between buying and selling forces.
MACD Indicator: It shows a slight negative crossover, which may indicate potential selling pressure.
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📈 Forecast for the Coming Hours
Bullish Scenario: If SOL manages to break through the resistance at 175.50$ with a strong close, it may target levels of 178$ then 180$.
Bearish Scenario: In case it breaks the support at 172.50$, we may witness a pullback towards 170$ or lower to test deeper support areas.
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📌 Recommendation
For Day Traders: Wait for confirmation of the breakout or rebound from support or resistance levels before making entry or exit decisions.
For Medium-Term Investors: As long as the price is above 170$, the outlook may remain positive, but it is advisable to monitor the market closely.
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📣 Share Your Opinion!
Do you think SOL will soon surpass the 180$ barrier? 💬 Share your predictions in the comments!
