Descending Trendline Resistance: SOL's price started a technical correction on June 6 after retesting its descending trendline as resistance.
Current Support Levels: As of June 15, SOL is testing its multi-month ascending trendline support
50-Day EMA: If SOL rebounds, it could target the 50-day exponential moving average (EMA) around $158.65, representing a potential 13.50% increase from current levels by the end of June.
Further Decline Risks:
200-Day EMA: If SOL breaks below the trendline support, it risks a decline towards the 200-day EMA around $129.50.
Technical Levels:
Support and Resistance: Traders should closely watch the ascending trendline support and the 50-day EMA for potential rebound signals. Conversely, be prepared for further declines if SOL breaks below these critical support levels.
