Solana (SOL/USD) Trade Downsizes, Finding Support at $120
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Solana Price Prediction – April 15
Recently, price reactions that featured is in the control of bears to make corrections, given that the SOL/USD trade downsizes from around the resistance of $200 to find support at $120.
The last three days of bearish market movements tested the $120 value line before making a sudden shift that produced promising positive swings that are currently visible in the market. It is evident that purchasers are now motivated to revive their ways by making decisions that will keep the price above the support zone.
SOL/USD Market
Key Levels:.
Resistance levels: $180, $200, $220
Support levels: $125, $115, $105
SOL/USD – Daily Chart
The SOL/USD daily chart reveals that the crypto-economic market downsizes, finding support at $120.
The trend lines of both the lower and the middle Bollinger Bands are going to be instrumental in deciding the real direction that the price will follow in the near time. The stochastic oscillators have been in the oversold region, signifying that the price is tentatively in a consolidation mode.
Should buyers take advantage of the two bullish candlesticks that are currently forming in the SOL/USD trade?
As there has been about two bullish candlesticks formation, it appears that correction has been gradually ended, given that the SOL/USD market downsizes, finding support at $120.
With the emergence of a bullish candlestick during yesterday’s operations, it is highly expected of long-position pushers to star coming back provided that the support of $120 remains firmly established against any aggressive reversal to the south side. The middle Bollinger Band around $180 needs to be breached upside to propel the moves back to the point of $200.
An increase movement has been portraying in the market presently, therefore, sellers would have to be cautious of making a launch. Short-position placers may be tending to have a good entry while a bullish candlestick tends to actively reverse against more than the half size of its length at a given point in time.
SOL/BTC Price Analysis
In contrast, the Solana market downsizes against the point of Bitcoin, finding support at the lower end of he lower Bollinger Band.
In accordance with the weight of the counter crypto, the lower Bollinger Band trend lines have been severely declining in a southerly manner. The Stochastic oscillators are in the oversold region moving relatively in a consolidation manner to denote that buying force is striving to make a recoup.
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presente product or event. We are not responsible for your investing results.
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