Aadi 11
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Bearish
#$SOL
Solana down 6% on Friday, SOL could slip another 10%
Solana price wiped out 6% of its value on Friday amid geopolitical tension and Pump.fun-related developments within the SOL ecosystem. SOL risks a double-digit decline over the weekend, per technical indicators on the SOL/USDT daily price chart.
Solana could sweep liquidity at the $125 support, the upper boundary of a Fair Value Gap (FVG) on the daily timeframe. If the token fails to begin a recovery at this point and the downward trend persists, SOL could test the $95 support and lose the $100 milestone.
Relative Strength Index (RSI) reads 36 and is sloping downwards. The Moving Average Convergence Divergence (MACD) indicator shows an underlying negative momentum in the SOL price trend.
Conversely, a recovery could see SOL test resistance at the upper boundary of FVGs at $160 and $168. A daily candlestick close above the $168 resistance could pave the way for a retest of the $190 level, a key resistance level throughout the past five months.
Solana
SOL/USDT daily price chart | Source: Tradingveiw
Solana down 6% on Friday, SOL could slip another 10%
Solana price wiped out 6% of its value on Friday amid geopolitical tension and Pump.fun-related developments within the SOL ecosystem. SOL risks a double-digit decline over the weekend, per technical indicators on the SOL/USDT daily price chart.
Solana could sweep liquidity at the $125 support, the upper boundary of a Fair Value Gap (FVG) on the daily timeframe. If the token fails to begin a recovery at this point and the downward trend persists, SOL could test the $95 support and lose the $100 milestone.
Relative Strength Index (RSI) reads 36 and is sloping downwards. The Moving Average Convergence Divergence (MACD) indicator shows an underlying negative momentum in the SOL price trend.
Conversely, a recovery could see SOL test resistance at the upper boundary of FVGs at $160 and $168. A daily candlestick close above the $168 resistance could pave the way for a retest of the $190 level, a key resistance level throughout the past five months.
Solana
SOL/USDT daily price chart | Source: Tradingveiw
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