SolanaShort
$SOL Short-Term Pain to $170-180
Solana Closed the Week below the 9WMA but above the 20.
The Week opened trading below the 20WMA and UpTrend it formed Since August 5, 2024.
SOL will most likely retest $170-180 region where it should bounce off the 50WMA. Closing a week or two below that might cause some concern. Will revisit next week.
Bull Case is that SOL closed above the .382 Fib and UpTrend so some bullish catalysts next week could spur a rally.
The Week opened trading below the 20WMA and UpTrend it formed Since August 5, 2024.
SOL will most likely retest $170-180 region where it should bounce off the 50WMA. Closing a week or two below that might cause some concern. Will revisit next week. Bull Case is that SOL closed above the .382 Fib and UpTrend so some bullish catalysts next week could spur a rally.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.