Unraveling the mysteries of SOLUSD | Crypto
In today’s video, we look at SOLUSD on the daily chart. Will the ongoing rally maintain its momentum, or is there a potential descent on the horizon?
Today’s focus: SOLUSD
Pattern – Failed high and HL
Support – 51.71
Resistance – 57.70 – 58.20 – 59.00
Today’s video asks if Solana’s run will continue or if it could see further selling enter the market. Buyers continue to push in today’s session but continue to be met with decent selling from $57.70 and above up to $61.
There’s also an interesting price set up we have run over, as it looks a lot like the current price action we are seeing at the moment, and the last time this occurred, we saw a solid run up.
Good trading.
SOL | SOLUSD | Cryptocurrency | Cryptocurrency Trading | Crypto Trading | Price Action | Technical Analysis | Trend Analysis | Chart Patterns | Technical Indicators | Continuation Patterns
* The information provided on this page are the opinions of the author and do not necessarily reflect the opinions of Eightcap and are not endorsed by Eightcap.
Any person acting on the information presented on this page does so entirely at their own risk. No representation or warranty is given as to the accuracy or completeness of this information. Any research provided does not have regard to any specific investment objectives, financial situation and needs of any specific person who may receive it.
Margin trading involves a high level of risk and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Eightcap, and seek independent advice if necessary.