SOL Solana: 1D Chart Review
Updated
Hello friends, today you can review the technical analysis on a 1D linear scale chart for Solana (SOLUSD), a cryptocurrency.
Quick Analysis:
1) The price of Solana is currently in a Descending Parallel Channel which has been respected for over a month.
2) The price failed the re-test of an important support line when the price was going up, however that line will potentially be resistance going forward.
3) The price entered back into a consolidation channel which it was in for over a month in September-October 2021.
4) If the price continues to fall, keep an eye on the danger line as it would be one of the last areas of support.
5) RSI (relative strength index) is hovering around the oversold region.
6) Stochastic RSI (Stoch RSI) is in the oversold region.
7) The Volume is low compared to the recent Volume each day.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
Quick Analysis:
1) The price of Solana is currently in a Descending Parallel Channel which has been respected for over a month.
2) The price failed the re-test of an important support line when the price was going up, however that line will potentially be resistance going forward.
3) The price entered back into a consolidation channel which it was in for over a month in September-October 2021.
4) If the price continues to fall, keep an eye on the danger line as it would be one of the last areas of support.
5) RSI (relative strength index) is hovering around the oversold region.
6) Stochastic RSI (Stoch RSI) is in the oversold region.
7) The Volume is low compared to the recent Volume each day.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
Note
channel still intact!
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