Solana has been in a downtrend since 1-19-25 creating lower lows and lower highs. Bearish death cross was confirmed in middle of March. Price is retesting major support that was broken around the $125.00 area. Only a reclaim and higher high of this area would give any indications of a possible bottom. $147.60 area would have to be broken for a break of structure to the upside and a confirmed deviation of the consolidation range.
Major resistance levels are marked on the chart and also the anchored vwaps that are anchored to important/specific price areas. These areas are points of interest where candle confirmation can lead to higher probability trades. $90.36 area looks to be wanting to be tested which is the anchor point of the vwap from the low of this entire move from late 2022.
Major resistance levels are marked on the chart and also the anchored vwaps that are anchored to important/specific price areas. These areas are points of interest where candle confirmation can lead to higher probability trades. $90.36 area looks to be wanting to be tested which is the anchor point of the vwap from the low of this entire move from late 2022.
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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.