Is SOL/USDT going to $16?
Updated
The horizontal line in red is the SELL resistance.
The horizontal line in green is the BUY resistance.
The price pattern in blue is from August 10th to August 27th, 2023.
According to the chart, if we break the BUY resistance, the price of SOL could drop to 18 and 16 USD.
However, we should keep an eye on the price action and price levels. Better trading ideas could come from them.
Most importantly, the market is always changing, so it is important to trade safely with risk management.
The horizontal line in green is the BUY resistance.
The price pattern in blue is from August 10th to August 27th, 2023.
According to the chart, if we break the BUY resistance, the price of SOL could drop to 18 and 16 USD.
However, we should keep an eye on the price action and price levels. Better trading ideas could come from them.
Most importantly, the market is always changing, so it is important to trade safely with risk management.
Note
At the moment SOL is following BTC price. BTC
SOL
SOL could continue the price drop if it can break the buy resistance
In the meantime, keep monitoring the price of BTC:
Note
Note
As always, stay safe (by practicing risk management) and stay vigilant (by monitoring the price action/resistance levels).Happy trading, and may the force be with you.
Note
Note
Note
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.