Solana (SOL) has exhibited notable strength in the cryptocurrency market, recording an 8% gain for the week. However, the cryptocurrency faced a correction after reaching a three-digit valuation. Here are the key details:
Market Performance:
Weekly Gain: SOL managed to secure an 8% gain over the course of the week, indicating ongoing strength in its market performance.
Correction from Three-Digit Valuation: After reaching a valuation in the three-digit range, SOL experienced a correction. The psychological resistance posed by this level attracted profit-taking and selling pressure.
Technical Outlook:
Uptrend and Support Levels: As long as the uptrend remains intact, bulls maintain an advantage. SOL has established good support levels at $74 - $78, contributing to its overall bullish bias.
Resistance Levels: Strong resistance is observed at $118 - $123, highlighting the price levels where sellers may be active.
The ability of SOL to maintain its uptrend and hold above key support levels, particularly $100, will be crucial for sustaining a bullish bias.
Market Performance:
Weekly Gain: SOL managed to secure an 8% gain over the course of the week, indicating ongoing strength in its market performance.
Correction from Three-Digit Valuation: After reaching a valuation in the three-digit range, SOL experienced a correction. The psychological resistance posed by this level attracted profit-taking and selling pressure.
Technical Outlook:
Uptrend and Support Levels: As long as the uptrend remains intact, bulls maintain an advantage. SOL has established good support levels at $74 - $78, contributing to its overall bullish bias.
Resistance Levels: Strong resistance is observed at $118 - $123, highlighting the price levels where sellers may be active.
The ability of SOL to maintain its uptrend and hold above key support levels, particularly $100, will be crucial for sustaining a bullish bias.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.