๐ฃ๐ฃHey there, BTC enthusiasts! ๐ Let's take a quick detour and talk about Solana (SOL). It's been a rough week for SOL, with a 10% drop in valuation after failing to break the key resistance at $206 twice. ๐ฑ Now, the sellers are knocking at the door of the critical support level at $164.
๐๐Key support: $164
๐๐Key resistance: $206
The pressure is on! To avoid a lower low, SOL's price must stay above the key support at $164. If it breaks down, the bears might push Solana towards $130 next. ๐ป๐
Adding fuel to the fire, the 3-day MACD just made a bearish cross. This is a major signal that momentum is shifting bearish, and Solanaโs uptrend may come to an end. If the support at $164 is lost, this would be confirmed. ๐จ๐
Current bias on Solana: Bearish ๐ป
In short, SOLโs price action is at a critical junction. There are clear signs that sellers have the upper hand. If they are successful in their offensive, then SOL will likely fall under the key support at $164. Stay tuned, folks! ๐๐
Remember, we're just observers here, not financial advisors. Always do your own research before making any investment decisions. ๐ง๐
Stay crypto, stay cool! ๐๐