SOL/USDT — Technical Analysis (4h Chart)
Solana broke below the lower boundary of a short-term ascending channel, signaling a loss of upward momentum and a weakening of the recent structure. The price is trading at 116.20, below the intermediate support levels at 117.25, 119.92, and 122.21, reinforcing the short-term corrective bias.
The RSI(6) stands at 17.58, indicating an extremely oversold condition. This suggests the downward move may be nearing exhaustion, but it does not guarantee an immediate reversal, so it would be prudent to wait for price confirmation.
The main technical and psychological support is around 95.82, while immediate resistance lies in the breached zone near 117.25. A recovery above this level would be the first sign of momentum returning.
Disclaimer: this is a technical reading of the chart, not an investment recommendation.
#sol #OilPrice $SOL
Solana broke below the lower boundary of a short-term ascending channel, signaling a loss of upward momentum and a weakening of the recent structure. The price is trading at 116.20, below the intermediate support levels at 117.25, 119.92, and 122.21, reinforcing the short-term corrective bias.
The RSI(6) stands at 17.58, indicating an extremely oversold condition. This suggests the downward move may be nearing exhaustion, but it does not guarantee an immediate reversal, so it would be prudent to wait for price confirmation.
The main technical and psychological support is around 95.82, while immediate resistance lies in the breached zone near 117.25. A recovery above this level would be the first sign of momentum returning.
Disclaimer: this is a technical reading of the chart, not an investment recommendation.
#sol #OilPrice $SOL