![Solana [SOL] traders can see barriers in $47-$50 range if…](https://i.headtopics.com/images/2022/8/12/cryptoamb/solana-sol-traders-can-see-barriers-in-47-50-range-if-1557827449693655048.webp)
Solana [SOL] traders can see barriers in $47-$50 range if...
Over the last few weeks, Solana’s [SOL] patterned breakout crystallized into a symmetrical triangle after retesting the upper trendline of the down-channel.
The gradual uptick in SOL’s troughs could improve its chances of snapping the 61.8% Fibonacci resistance. However, the bulls must continue to ramp up the buying volumes to topple the supply zone .Source: TradingView, SOL/USD A rebound from this level could extend the sluggish recovery phase in the coming sessions. In this case, SOL would fall back to retest the Point of Control near the $39-level.
The OBV reflected a slight uptick over the last week but was yet to topple its immediate resistance. Also, should the price see a sudden uptick, its peaks would confirm a bearish divergence with the OBV.