SOL DROPPED SHOULD YOU BUY OR SELL ?
👇 click on SOL to buy now 👉$SOL
$ETH
$BTC
SOL has exhibited a favorable pattern on a monthly basis, with an increase of 3.30%. The crypto has a prominent spot in the market, valued at $73.39 billion, placing it fifth among all cryptos, according to CoinMarketCap. Solana’s trading volume in the past day hit $1.37 billion. Despite current fluctuations, Solana’s value stays notably under its all-time high of $260.06 reached on November 7, 2021, showing a drop of 38.52% from its highest point.
Majority of moving averages in the short-term indicate a bearish trend. The Exponential Moving Averages (EMA) in the short-term is at 164.12, 164.61, and 163.52, all pointing at a sell signal.
In the same way, the Simple Moving Averages (SMA) for the same periods signal a sell.
In contrast, long-term moving averages tell a different story, offering an optimistic sentiment. Both 50-day EMA and 50-day SMA suggest a buy.
Similarly, the 100-day and 200- day EMAs and SMAs also indicate buying.
The difference in short-term and long-term signals indicates that although Solana may experience short-term bearish pressure, its long-term prospects are still promising.
The RSI is at 45.92, showing that there are no signs of being overbought or oversold.
indicators like the Commodity Channel Index (CCI) at -125.53 suggest a buying opportunity, whereas the MACD level at 0.50 indicates a sell.
The immediate support level is at 157.70, while resistance is noted at 196.71. Breaking the resistance at 196.71 could propel Solana towards the next resistance levels at 227.92 and 298.14, marking a significant bullish breakout.
Conclusion: yes buy it before it starts going up (just make sure it's a short term trading )
