SOL/USDT 4HInterval Resistance and Support
Hello everyone, I invite you to review the SOL chart on a four-hour interval. As we can see, the price is moving below the downtrend line.
Let's start by marking the support spots for the price and we see that we first have a support zone from $23.42 to $22.56, but if the price goes lower, we have another support at $21.31, then at $19, $74.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the first resistance is at $24.15, then we have resistance at $24.70, the next at $25.16, once price breaks it will move towards the strong resistance zone from $25.65 to $26 $.31 and then strong resistance at $27.14.
It is worth paying attention to the EMA Cross 10 and 30, which indicate the start of a downtrend.
The CHOP index indicates that most of the energy has been consumed, the MACD indicates a local downtrend, while the RSI is moving in the lower part of the range, which may indicate that when the support zone holds, we may see a change in the trend.
Let's start by marking the support spots for the price and we see that we first have a support zone from $23.42 to $22.56, but if the price goes lower, we have another support at $21.31, then at $19, $74.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the first resistance is at $24.15, then we have resistance at $24.70, the next at $25.16, once price breaks it will move towards the strong resistance zone from $25.65 to $26 $.31 and then strong resistance at $27.14.
It is worth paying attention to the EMA Cross 10 and 30, which indicate the start of a downtrend.
The CHOP index indicates that most of the energy has been consumed, the MACD indicates a local downtrend, while the RSI is moving in the lower part of the range, which may indicate that when the support zone holds, we may see a change in the trend.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.