$SOL $SOL The $SOL /USDT chart is currently displaying a bearish trend with downward momentum. The price is below key resistance levels and is consolidating near the £174.73 level.
Key Levels
Support: £163.33, £159.12
Resistance: £183.38, £184.60
Analysis
Bearish Signal: The recent break below the £183.38 level confirms a bearish trend. The price is currently consolidating below this level, indicating potential for further downside movement.
Momentum Indicators: The RSI (Relative Strength Index) is below the 50 level, suggesting bearish momentum. The MACD (Moving Average Convergence Divergence) is also showing a bearish crossover, further supporting the bearish outlook.
Volume: Decreased trading volume during the recent price decline indicates waning interest.
Entry Signal
A potential short entry signal could be a retest of the £174.73 level. If the price breaks below this level, a bearish entry can be considered with a stop-loss above the recent swing high.
Potential Targets
Short-term: £163.33, £159.12
Long-term: £152.70, £145.00
Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.#BinanceBlockchainWeek #USJobOpeningsDip #USADPSurges #BTCBreak71K #Write2Earn!