$SOL is sitting right on the range floor at ~101 USDT on the 4H chart. Bounce or breakdown?
• Trend: lower highs since Oct 12 (113.4 > 109.2 > 105.2), price below EMA50 (~105) and EMA200 (~108.6)
• Key support: 100.4-101.2, tested 3 times since Oct 15. Next below: 96-98 (late-Sept lows)
• Key resistance: 104.9-105.2 (EMA50 + Oct 23 high), then 108.2-109.2 (Oct 20-22 highs + EMA200)
• RSI(14) ~33, close to oversold, so a relief bounce is possible
• Bullish: hold 100.4 and reclaim 105.2 opens 108.2-109.2. Bearish: a 4H close below 100.4 targets 96-98
Bottom line: 100.4 is the line in the sand. Wait for the reaction there, don't front-run it.
Not financial advice.
#Solana #CryptoMarket #TechnicalAnalysis #CryptoTrading #Binance
• Trend: lower highs since Oct 12 (113.4 > 109.2 > 105.2), price below EMA50 (~105) and EMA200 (~108.6)
• Key support: 100.4-101.2, tested 3 times since Oct 15. Next below: 96-98 (late-Sept lows)
• Key resistance: 104.9-105.2 (EMA50 + Oct 23 high), then 108.2-109.2 (Oct 20-22 highs + EMA200)
• RSI(14) ~33, close to oversold, so a relief bounce is possible
• Bullish: hold 100.4 and reclaim 105.2 opens 108.2-109.2. Bearish: a 4H close below 100.4 targets 96-98
Bottom line: 100.4 is the line in the sand. Wait for the reaction there, don't front-run it.
Not financial advice.
#Solana #CryptoMarket #TechnicalAnalysis #CryptoTrading #Binance