Solana (SOL) turned down from the 20-day EMA ($147) on August 20, which shows that the bears are defending this level aggressively.
SOL/USDT Daily Chart | Source: TradingView
If the price continues to decline, it will indicate that the bears are still in control. That will increase the possibility of a break below the nearest support level at $136. After that, the SOL/USDT pair could drop to $116.
Conversely, if the price rises from the current levels or rebounds from $136, it will signal buying on dips. The bulls will then attempt to push the price above the 20-day EMA. If successful, the pair could rise to the 50-day SMA ($153) and below it to $164.
-- If you want to join the group to exchange signals or learn about the market, please click here. Ô...9,,,,,ô....4....7...3,,,2...ô..ô....ô
