✴️ Support Weakens | Solana To Crash Below 100

A trend following system uses a moving average as the main tool to generate trading signals for a system trader; the moving average is like the holy grail of technical analysis, together with the RSI.

The moving average that is active on this Solana chart is ema100; blue line on the chart.

Notice how Solana (SOLUSD) becomes bullish September 2023 as soon as it breaks above this indicator; a test happens in October 2023 of ema100 as support and it holds. From October 2023 through March 2024 Solana moved straight up, trading safely above ema100.

Now... Everything changed!

➖ The market sentiment change;
➖ The short- to mid-term direction changed;
➖ Solana is now bearish for almost two months!

👉 ema100 is the last and critical support at $140.
If this level breaks, expect a sudden and fast crash below $100 next.

Thank you for reading.

Namaste.