SOL at critical resistance trendline
SOL is at a crucial resistance trendline in this weekly timeframe.
Here are two scenarios we can consider for SOL in a higher timeframe:
Bullish Scenario: If SOL closes above the $200 resistance trendline in the weekly TF, we are likely to see a decent rally and possibly a new all-time high.
Bearish Scenario: If SOL gets rejected from the $200 resistance level, it is possible to see a correction in SOL.
Fundamentally, SOL is a strong project, and with their meme coins, it is hard to imagine a 70% to 80% drop in SOL.
Technically, SOL is at a decisive point. The RSI is unable to gain momentum, indicating the formation of bearish divergence.
Consideration:
It will be wise to wait for the weekly close and let the chart show some confirmation, either bullish or bearish.
I hope this analysis helps you make a better decision.
Please do your own research and analysis for final confirmation.
Regards,
Team Dexter.
Here are two scenarios we can consider for SOL in a higher timeframe:
Bullish Scenario: If SOL closes above the $200 resistance trendline in the weekly TF, we are likely to see a decent rally and possibly a new all-time high.
Bearish Scenario: If SOL gets rejected from the $200 resistance level, it is possible to see a correction in SOL.
Fundamentally, SOL is a strong project, and with their meme coins, it is hard to imagine a 70% to 80% drop in SOL.
Technically, SOL is at a decisive point. The RSI is unable to gain momentum, indicating the formation of bearish divergence.
Consideration:
It will be wise to wait for the weekly close and let the chart show some confirmation, either bullish or bearish.
I hope this analysis helps you make a better decision.
Please do your own research and analysis for final confirmation.
Regards,
Team Dexter.
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.