3 min readSOLANA (SOL/USD):
As mentioned in previous articles, I am interested in observing how price action behaves within these areas of internal support. Currently, the price has moved back above $150.00 and is holding support along this internal trend line. If the upward trend continues, I anticipate potential resistance around the $160.00 level.
Looking more closely at the technicals, we can see that the price has temporarily broken out of the descending trend line after retracing to the 50% level on the Fibonacci tool. If this breakout and retest holds, I will closely monitor the RSI indicator for any signs of an overbought conditions and to gauge the market’s reaction.
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The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
