Solana

altFINS

Sherpa

Momentum

Reversal

<p><strong>Solana (SOL) has been trading in a range between $16-$27 over the past few months <a href="https://x.com/AltcoinSherpa/status/1713320784473592207?s=20" target="_blank" rel="noopener noreferrer nofollow">according</a> to popular crypto analyst Altcoin Sherpa. </strong></p>
<p>This week SOL is down around 6% and currently trading near $22. However, technical analysis from altFINS suggests the recent pullback to support around $20 and the 200-day moving average could present a buying opportunity.</p>
<blockquote class="wp-block-quote">
 <p><em>“Best to probably just buy and hold this for a bit.”</em> – Sherpa wrote</p>
</blockquote>
<p><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true">AltFINS</a> notes that trends are shifting to uptrend on the higher timeframes. Momentum is mixed with the MACD line below the signal line, indicating some bearishness, but RSI is around 50 suggesting a neutral outlook.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="505" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-385-1024x505.png" alt="" class="wp-image-356055" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-385-1024x505.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-385-300x148.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-385-766x378.png 766w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-385-1536x758.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-385-2048x1010.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-385-304x150.png 304w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-385-100x49.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-385-709x350.png 709w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-385-788x388.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Key support levels sit at $20 (previous resistance) and $12. Resistance is seen at $25-$30 and $38. With SOL bouncing off support and trends poised to turn upward, altFINS believes there is upside potential for Solana to return to the $25-$30 zone.</p>
<p>Analysts suggest SOL may continue ranging between $16-$27 short-term but ultimately technicals point to a bullish bias. The recent dip to $20 support could offer an opportunity for traders looking to buy the dip and capitalize on a move back towards overhead resistance.</p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/solana-sol-technicals-suggest-bullish-reversal-in-play-after-dip/">Solana ($SOL) Technicals Suggest Bullish Reversal In Play After Dip</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Solana ($SOL) Technicals Suggest Bullish Reversal In Play After Dip

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