Solana (SOL): where to next?
Solana (SOL) has been oscillating between $116 and $210 for several months, indicating buying on dips and selling on rallies.
The price rebounded off the solid support at $116, signaling that the bulls are active at lower levels. The SOL/USDT pair could reach the moving averages, which are the key resistance level to keep an eye on.
If the price turns down from the moving averages, the bears will try to sink the pair below $116. If they succeed, the fall could reach $100 and then $80.
On the upside, a close above the moving averages will suggest that the selling pressure is reducing. The pair may extend its stay inside the large range for a few more days.
The price rebounded off the solid support at $116, signaling that the bulls are active at lower levels. The SOL/USDT pair could reach the moving averages, which are the key resistance level to keep an eye on.
If the price turns down from the moving averages, the bears will try to sink the pair below $116. If they succeed, the fall could reach $100 and then $80.
On the upside, a close above the moving averages will suggest that the selling pressure is reducing. The pair may extend its stay inside the large range for a few more days.
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