Solana

Here’s the Most Critical Support to Watch (Solana Price Analysis)

Solana did not maintain its bullish momentum and has tons its uptrend.

Key Help ranges: $78

Key Resistance ranges: $104 

1. Bearish Breakdown in Progress

As quickly as Solana fell beneath $100, the momentum shifted bearish and sellers took over the value motion. Over the weekend, the value broke under its uptrend which put an finish the rally that began in October 2023.

Chart by TradingView

2. Key Help at $78

With patrons on the defensive, the primary key assist degree the place they may cease this correction is discovered at $78. This degree used to behave as a resistance on the best way up and now it may possibly act as assist.

SOLUSDT_2024-01-08_14-11-20
Chart by TradingView

3. MACD Bearish Momentum Intensifies

The MACD histogram and shifting averages are falling at an growing velocity which is a bearish sign that reveals sellers dominate proper now. SOL’s worth will seemingly proceed to fall in consequence.

SOLUSDT_2024-01-08_14-10-52
Chart by TradingView

Bias

The bias for SOL is bearish.

Brief-Time period Prediction for SOL Value

All eyes at the moment are on the important thing assist at $78 which is probably the most important assist degree on the chart. If patrons don’t return there, then this correction could last more than anticipated.

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Cryptocurrency charts by TradingView.

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