Solana has already tested the key level of $81 several times!
This is an important local level, under which lots of traders set stop-losses! After each test of the level, the volumes fall (indicated in the bottom panel), which means the weakness of the buyers.
In the near future it is possible that this key level will be broken in order to collect liquidity below it and to take long positions by whales.
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P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
I'm expecting a spring test below the 80 level. If the whale demand is strong and volumes are following the action, we can then see a markup action toward the 130-140 area
VinZa
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Thanks for sharing and useful while I am learning. Any chance of an update of the SOL chart? Thanks