Moving Average joins support for SOL / USD. Will bullying begin ?

Solana Native token, SOL / USD, moved below $ 100, which was long overdue. The token, which previously served as a support, broke around $ 125- $ 133 and came under heavy bear pressure. Our former Attitude In terms of bearish pressure, SOL / USD is moving below $ 100 and up to $ 78. The announced Ethereum Assassin dropped to $ 80.9, slightly higher than our forecast. Although this decline was related to the general weakness in crypto, Solana network special issues were also responsible. Network disconnection, with Recent Being on January 23 contributed to the crash, as users were upset by heavy liquids that lasted for two days.

Down to $ 80, SOL / USD is now back. At the time of writing, it was trading at $ 96.50, and has risen 4.8% in the last 24 hours. As other cryptocurrencies turn green again, there will be immediate gains. Invincible Marketplace is looking to integrate OpenSea Solana with its Phantom Solana Wallet. This is positive news, with NFTs sales rising to $ 1 billion for the first time in January on the Solana network, highlighting the significant growth of blockchain-related tokens, SOL. Following the knee-jerk reaction, technical applicants support a return of more than $ 100 for SOL / USD.

SOL / USD – Moving averages join support on a 4-hour chart

On the 4-hour chart, SOL / USD is back at $ 80.9. All moving averages have joined the support which means they can raise SOL / USD. There are more bullying indicators on the daily chart.

SOL / USD Establish a $ 80.9 bullying reversal signal.

Moving Average joins support for SOL / USD. Will bullying begin?

On the daily chart, SOL / USD created a bullshit pin bar at $ 80.9, which is now turning into a support area. The token is being strengthened at this stage, with buyers’ interest showing signs of a reversal, suggesting a price drop below $ 80.9. Moving averages still need to join support, but this should not be interpreted as a depressive market, as prices are still declining from the depressive activity that began in November. However, moving averages may still provide some resistance to the upward movement, while short market corrections may be up.

SOL / USD trading idea

Based on the emerging basic and technical indicators, I recommend trading on SOL / USD, which suggests a return. However, depending on the daily chart, SOL / USD could face resistance at $ 125.5, before seeing anything else. So, I look at that level, which can turn into opposition, and I take a profit accordingly. Other levels to look at price action are $ 133, $ 152, and up to $ 190. good for you!


#forex_news

Leave a Comment