Solana

Bitcoin

Rise

Daily

<ul> 
 <li>When examining Solana’s daily chart, daily candlestick closures above the resistance level of $17.71 can be considered as an important bullish signal.</li> 
 <li>If SOL price holds onto the support zone between $15.95 and $15.25, the important resistance levels for the targeted upward movement are $18.78 and $21.34.</li> 
 <li>A strong breakout above the blue resistance zone indicated on Solana’s daily chart can push the SOL price up to $24.5.</li> 
</ul> 
When examining Solana’s daily technical chart, an analysis is presented that evaluates bullish and bearish scenarios along with important resistance and support zones. 
<h2 id="strong-medium-term-solana-price-analysis-strong">Medium-Term Solana Price Analysis</h2> 
<a href="https://en.coinotag.com/wp-content/uploads/2023/06/Can-Solana-SOL-Start-Its-Rise-from-the-Support-Zone.png"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-134065 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/Can-Solana-SOL-Start-Its-Rise-from-the-Support-Zone.png" alt="Daily SOL/USD Price Chart" width="1781" height="858"></a> Daily SOL/USD Price Chart 
When examining Solana’s daily technical chart, it can be seen that it has advanced to the $17.71 levels with an upward movement starting from the daily support zone. 
If the SOL price fails to achieve daily candlestick closures above the $17.71 level, it is stated that the downward movement can continue to the range of $15.95 – $15.25. However, if the Solana price manages to hold onto this support zone, it can initiate the upward movement from this range and reach the levels of $18.78 and then $21.34. 
If the SOL price achieves daily candlestick closures above the blue resistance zone mentioned in the analysis, it is stated that it can continue the upward movement up to $24.5. However, it is emphasized that it first needs to reverse from the mentioned support zone and achieve daily candlestick closures above the resistance zones. 
<h2 id="strong-short-term-sol-price-analysis-strong">Short-Term SOL Price Analysis</h2> 
<a href="https://en.coinotag.com/wp-content/uploads/2023/06/1687442470_306_Can-Solana-SOL-Start-Its-Rise-from-the-Support-Zone.png"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-134066 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/1687442470_306_Can-Solana-SOL-Start-Its-Rise-from-the-Support-Zone.png" alt="3-Hour SOL/USD Price Chart" width="1781" height="858"></a> 
3-Hour SOL/USD Price Chart 
When examining Solana’s technical chart on lower timeframes, it is observed that an important resistance zone is encountered at $17.74 and the downward movement starts after this level is broken with selling pressure. 
If Solana’s price cannot surpass the $17.74 resistance level, it can continue the downward movement until the $16.18 levels. If the SOL price achieves a candlestick closure below the $16.18 level, it can extend the downward movement to $15.69. 
In addition, if there is a significant decrease in Bitcoin price, Solana can drop to the $15.03 levels. This level is an important support zone where many large whales are waiting to buy Solana. 
The post <a rel="nofollow" href="https://en.coinotag.com/can-solana-sol-start-its-rise-from-the-support-zone/">Can Solana (SOL) Start Its Rise from the Support Zone?</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG EN</a>.

Can Solana (SOL) Start Its Rise from the Support Zone?

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