Solana Technical Analysis
Updated
FxNews—Solana is trading bearishly below the 100-period SMA, with immediate resistance at $168.50.
The SOL/USD trend outlook will remain bearish as long as bears hold positions below $168.50. In this scenario, the next bearish targets would be $158.00, followed by $152.00.
Please note that a close above the immediate resistance would invalidate the bearish scenario.
The SOL/USD trend outlook will remain bearish as long as bears hold positions below $168.50. In this scenario, the next bearish targets would be $158.00, followed by $152.00.
Please note that a close above the immediate resistance would invalidate the bearish scenario.
Trade closed: target reached
Solana's downtrend has now reached the October 15 high at $158.00, which serves as active support. The 14-period RSI suggests that the downtrend may continue.
Immediate resistance remains at $168.50, and the market outlook stays bearish as long as this level holds. The next bearish target could be the $152.00 mark.
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.