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Cryptoknowmics 2022-03-08 11:23:48

SOL Technical Analysis: The Fall Slowdown And Rebound To $150

The last 4 trading weeks on the SOL market have been difficult for sellers. It has become more difficult to keep the initiative in the market. If from the end of December the fall dynamics was quite aggressive, then during February, buyers did their best to slow down the initiative of sellers. Unfortunately, buyers failed to organize a counterattack in the form of the SOL price rebound with the target of $150. The last weekly candle from 28 February closed below the opening price and also with a pin up. The trading volumes have increased slightly over the past two weeks, but remain low. The main liquidity range has shifted to $80-$85. It is in this liquidity zone that buyers are actively keeping the SOL price from mid-January 2021. Even if the global fall wave that began in November 2021 continues – before that we expect a local growth wave. The worst-case scenario for buyers at the moment is the continuation of consolidation in the range of $80-$85, after which it will continue without a corrective fall. But, at the moment this scenario is an alternative. Technical Analysis Of SOL On The Daily Timeframe Analyzing the SOL price movement on the daily timeframe, we can see that the slowdown in the fall happens in the formation of a wedge. Volatility in the SOL market is falling and the price is preparing for a new impulse. In addition, within the for...

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