During the decline in the week (3rd-9th), it is not difficult to find that long side was strengthening which explains that the price even reached 160 in the subsequent rebound process. But similar to ETH, the short side of SOL did not decrease in the rebound. There is not enough evidence to show that the reversal will start.With the appearance of the long candle yesterday, the trend was still not clear.
Conclusion: Mostly fluctuation. The strengthening of long side before confirmation at 1D level can’t lead to a reversal at larger level, but may bring the price closer to fluctuation. We hold the previous resistance level (150),because it wasn’t broken effectively. As long side reacted,we moved support up to 132.
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 fluctuation. The strengthening of long side before confirmation at 1D level can’t lead to a reversal at larger level, but may bring the price closer to fluctuation. We hold the previous resistance level (150),because it wasn’t broken effectively. As long side reacted,we moved support up to 132.
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.