Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion SOL could witness a fall in the days to come if the bears gain an upper hand in the market Investor confidence in SOL dwindled to some extent after witnessing an upside over the […]
At press time, SOL’s Relative Strength Index and Money Flow Index were flat on the three-hour chart. It implies that buying pressure stagnated and could face a reversal if bears gained more influence.
SOL bulls may only attempt a break above this range if BTC overcomes the $20,995 short-term resistance.Alternatively, bears could push SOL below $21.72 if selling pressure intensifies. However, such a downtrend could find steady support on the 61.8% Fib level of $20.95 and invalidate the bullish bias described above.According to Santiment, SOL’s development activity declined slightly after witnessing massive growth over the past few days.
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