Solana SOL Price Analysis April 10, 2023
SOLUSDT Solana's SOL has been stuck in a tight trading range, indicating a lack of direction for both the bulls and the bears. The 20-day EMA around ($20.64) is flat, and the RSI is just below the midpoint, which makes it difficult to determine a clear advantage for either side. Therefore, it is better to wait for a breakout to occur before taking any significant positions.
If the price manages to break above the downtrend line, it may encourage the bulls to buy aggressively. This could result in the SOL/USDT pair surging to
27 and eventually to $39. Conversely, if the price falls below $18.70, selling pressure may intensify, and the pair could drop sharply to $15.28.Let me know what you think!
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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.