SOL / USD showed more neuron sales yesterday, as the cryptocurrency has been declining for a short time, adding fuel to the neurons.
SOL / USD is moving close to 94,000 as of this writing. Nearly 90,7,500 were seen over the weekend. While short-term bullies who want a quick reversal may be impressed by the profits they make, this week’s high-intensity activity isn’t exactly impressive. Much has been done to reverse the nervous sentiment triggered by SOL / USD.
Solana is operating in the context of the vast cryptocurrency market. After suffering from high sales since 21St In January, SOL / USD rebounded to a depth of about 80.0000 from 24.We January. However, Solana, like her peers, has not been able to overcome the level of resistance that announces the end of the mid-season depression.
At 7 p.m.We The February SOL / USD peaked at around 122.0000, making it the last of its 21-year highs.St January. Technically, that level of resistance and non-volatility may be a concern for traders, who may still see a sharp decline on the one-and-three-month charts. While SOL / USD may certainly move higher than it did in January, it may start to ignite the notion that higher action has taken place.
SOL / USD is in an important technical position and is hovering at critical support levels. Last week’s price action in Solana showed signs of a technical hit. The notion that other major cryptocurrency currencies are being pushed back could be a challenge for bullies. While some analysts believe that the SOL / USD is over-sold, they may see the current price ratio as a buy-in opportunity, but be sure to practice risk-taking tactics and make sure the defenses are working.
Traders who want to go down in SOL / USD in a short period of time cannot be blamed. Suspicious speculators and those who want to target nearby support may be making a logical bet by firing short positions when there is a slight reversal. If SOL / USD starts resisting the 93.0000 and 92.0000 price points in the short term, this could be seen as a sign of further depression.
Solana Short View
Current resistance: 97.6000
Current Support: 91.8500
Top target: 104.7500
Low target: 87.1000