Solana’s [SOL] descending channel course finally saw an upwards break over the last week. After closing above the 20 EMA (red) and the 50 EMA (cyan), the buyers depicted their edge in the current structure. The recent reversal from the 61.8% Fibonacci level could see a rebound from the near-term EMAs. A drop below the […]
Solana’s [SOL] descending channel course finally saw an upwards break over the last week. After closing above the 20 EMA and the 50 EMA , the buyers depicted their edge in the current structure.
Over the last two months, the 61.8% Fibonacci resistance has kept a strong check on the rallies. After the recent breakout, the bulls have recouped their vigor but the golden Fibonacci level has curtailed the buying efforts. Also, the CMF took off from the 0.06 support and blended with the bullish narrative. These readings can help buyers ensure the 50 EMA support.
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Solana traders positioned long can set their invalidation below…Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Solana [SOL] has been on a bearish trend since November 2021. Any strong rallies in the intervening time ultimately met with overwhelming selling pressure before the bulls could really reverse the trend. At the time […]
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Solana [SOL]: Did NFT volume, sales go awry amid market recoverySolana [SOL] NFT investors were among the most profitable investors in the first quarter (Q1) of 2022. According to data from Messari, Solana experienced growth in many aspects at the time. Despite a drop in crypto prices in the second quarter (Q2), Solana remained on top of amassing massive trading volume. Interestingly, the price of […]
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Solana [SOL]: Did NFT volume, sales go awry amid market recoverySolana [SOL] NFT investors were among the most profitable investors in the first quarter (Q1) of 2022. According to data from Messari, Solana experienced growth in many aspects at the time. Despite a drop in crypto prices in the second quarter (Q2), Solana remained on top of amassing massive trading volume. Interestingly, the price of […]
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Solana traders positioned long can set their invalidation below…Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Solana [SOL] has been on a bearish trend since November 2021. Any strong rallies in the intervening time ultimately met with overwhelming selling pressure before the bulls could really reverse the trend. At the time […]
Read more »
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