$SOL is pinned near 100 USDT. Six days of lower highs are now squeezing price into the 99 floor - the round number is on the line.
• Trend: lower highs since Oct 21 (109.2 > 105.2 > 102.7) on a falling trendline, price below the 4H EMA50 (~102.9) and EMA200 (~106.9)
• Key support: 99.2-99.5 (today's lows), then the Oct 24 wick low at 98.6. Below that, the next shelf is 96.0-97.4 (mid-September lows)
• Key resistance: the trendline near 101.2, then 102.0-102.9 (Oct 25-26 highs plus EMA50) and 104.5-105.3 (Oct 22-23 range)
• RSI(14) ~39, momentum weak but not oversold
• Bullish: a 4H close above 101.2 breaks the trendline and opens 102.0-102.9. Bearish: a close below 98.6 targets 96.0-97.4
Bottom line: $SOL is coiling between a falling trendline and the 99 floor. Whichever side breaks first likely sets the next move.
Not financial advice.
#Solana #sol #TechnicalAnalysis #CryptoMarket #Binance
• Trend: lower highs since Oct 21 (109.2 > 105.2 > 102.7) on a falling trendline, price below the 4H EMA50 (~102.9) and EMA200 (~106.9)
• Key support: 99.2-99.5 (today's lows), then the Oct 24 wick low at 98.6. Below that, the next shelf is 96.0-97.4 (mid-September lows)
• Key resistance: the trendline near 101.2, then 102.0-102.9 (Oct 25-26 highs plus EMA50) and 104.5-105.3 (Oct 22-23 range)
• RSI(14) ~39, momentum weak but not oversold
• Bullish: a 4H close above 101.2 breaks the trendline and opens 102.0-102.9. Bearish: a close below 98.6 targets 96.0-97.4
Bottom line: $SOL is coiling between a falling trendline and the 99 floor. Whichever side breaks first likely sets the next move.
Not financial advice.
#Solana #sol #TechnicalAnalysis #CryptoMarket #Binance
