Like ETH’s situation, after reaching the lower rail of the bearish channel, the strength of the long increased. And the short retested the new support level. In the recent stage of decline, SOL has the largest dump of the three undoubtedly, nearly -40%. As shown by the green arrow on the left, we think it may be related to the high-slope pump in September last year. An unstable basement brings faster collapse.
Conclusion: Mostly falling. Based on the performance of rebound on Jan.26 and the steep-slope opinion mentioned above, the trend of SOL is not optimistic. We lowered the resistance level to 100 because the previous resistance level may not be meaningful for the current situation. We have kept the support level(68) unchanged. And as seen in the last recap, this support level is quite critical for SOL.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Conclusion: Mostly falling. Based on the performance of rebound on Jan.26 and the steep-slope opinion mentioned above, the trend of SOL is not optimistic. We lowered the resistance level to 100 because the previous resistance level may not be meaningful for the current situation. We have kept the support level(68) unchanged. And as seen in the last recap, this support level is quite critical for SOL.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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.
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.