Solana Price Action Analysis
Solana Price Action Analysis
The above chart of SOLUSDT laid out a falling wedge pattern.In a falling wedge pattern, both the upper trend line which connects the highs and the lower trend line which connects the lows converge downwards. The wedge pattern in general indicates a trend reversal. Especially, the falling wedge signals a bullish reversal. This pattern indicates a breakout in the price trend towards an upswing.
From the above chart, we can interpret that the momentum of the downtrend is slowing down.
Currently, SOLUSDT is in the range of $13.53. If the pattern continues, the price of SOLUSDT might reach the resistance levels of $14.50. If the trend reverses, then the price of SOLUSDT may fall to $12.60
The above chart of SOLUSDT laid out a falling wedge pattern.In a falling wedge pattern, both the upper trend line which connects the highs and the lower trend line which connects the lows converge downwards. The wedge pattern in general indicates a trend reversal. Especially, the falling wedge signals a bullish reversal. This pattern indicates a breakout in the price trend towards an upswing.
From the above chart, we can interpret that the momentum of the downtrend is slowing down.
Currently, SOLUSDT is in the range of $13.53. If the pattern continues, the price of SOLUSDT might reach the resistance levels of $14.50. If the trend reverses, then the price of SOLUSDT may fall to $12.60
Penafian
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