✅$SOL has been on a down trend or a retracement in past few days and we can see that after reachiing the support zone below, there is a 'Hammer' candle formed suggesting that there must be buyers who entered the market and pushed the price up.
✅This price action is also validated by the average volume of the candle have.
✅But it is only one signal and there should be more signs of strength that should be there to predict that the price will climb up again.
✅After showing rejection, yesterday and today, the price is revisiting the support zone with low volume.
✅This can be interpreted in 2 ways. Either, this is a stratergy by buyers to mark the price down to accumilate more assets at a lower price than current price, or it can be the sellers who are testing the support zone to check whether there are buyers who are waiting the price to come to their level to initiate buying.
✅So, if you are looking to buy, this can be a good opportunity, but also keep in mind to manage risks.
✅Because, if there are no buyers, the sellers can push the price down beyond the support level.
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