Technical analysis $SOL

The bulls pushed Solana (SOL) above the 20-day EMA ($141) on July 10, showing that the bears are losing control. The SOL/USDT pair could rise to the 50-day SMA ($151), where the bears are expected to mount a strong defense. If the price turns down from the 50-day SMA, the bears will attempt to drag the pair to $116.

Conversely, a breakout and close above the 50-day SMA would indicate demand at higher levels. The pair could then rise to the downtrend line. The buyers will have to push the price above the downtrend line to invalidate the developing descending triangle pattern.