It is possible that a notable bearish technical flag will form on the daily chart of SOL in the next few days. This is likely to cause the altcoin price to break out of the consolidation channel in which it has been trading in recent days. At press time, the daily RSI line was approaching the daily RSI SMA line. This suggests that buyers are losing ground after managing to push SOL's price above the $22.20 barrier last week. Since then, the altcoin price has consolidated between $22.20 and $25.55. If the daily RSI line breaks below the RSI SMA line, SOL is likely to move below $22.20. Going forward, there is a risk that SOL will fall to the next key support level at $19.35 in the next 7 days. On the other hand, if buyers identify SOL's current price as a buying opportunity, they may try to challenge the $25.55 threshold. After that, it is possible that ongoing buying pressure could push the SOL price towards $29.30. #ContentStar #contentcreator #BountyCreator #Gate.ioDaily #HotTopicDiscussion
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Solana (SOL) comes in second place.
It is possible that a notable bearish technical flag will form on the daily chart of SOL in the next few days. This is likely to cause the altcoin price to break out of the consolidation channel in which it has been trading in recent days. At press time, the daily RSI line was approaching the daily RSI SMA line. This suggests that buyers are losing ground after managing to push SOL's price above the $22.20 barrier last week. Since then, the altcoin price has consolidated between $22.20 and $25.55.
If the daily RSI line breaks below the RSI SMA line, SOL is likely to move below $22.20. Going forward, there is a risk that SOL will fall to the next key support level at $19.35 in the next 7 days. On the other hand, if buyers identify SOL's current price as a buying opportunity, they may try to challenge the $25.55 threshold. After that, it is possible that ongoing buying pressure could push the SOL price towards $29.30.
#ContentStar #contentcreator #BountyCreator #Gate.ioDaily #HotTopicDiscussion