Solana Bulls Defends $10; Right here Is Why This Is Good For Bulls – Cryptospacey
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- SOL will bounce off the $10 key supports as the value rises above $14 as the bulls really feel safe.
- The value of SOL still looks bearish according to the current market situation as most traders and buyers are cautious.
- SOL bounces off lows of $11 every day as value looks weak, buy and sell below 50 and 200 exponential move (EMA)
Solana (SOL) has had a rough start to the month, with a lack of value movement after struggling from a steep decline in value from $35 to $11 due to the FTX fiasco, which has had an additional direct impact on value. Despite Solana’s (SOL) bouncing support, the value is still trading below an important curiosity zone that may interest many consumers. The domino effect of the FTX saga and various huge buyers has left the market at a standstill as the market is just about to make a significant move, leading to great concern about the potential direction of the market. (About Binance)
Solana (SOL) valuation on the weekly chart
Despite the uncertainty and turbulence that has affected the value of Solana (SOL) and the giant’s crypto market, many altcoins are struggling to survive and trying to stay afloat as the cost of altcoins drops in value.
Solana (SOL) has suffered additional value loss and the group has suffered and therefore wants additional rebuilding when it comes to the company’s value and belief after the FTX debacle.
SOL fell from the $35 range to $11 when SOL misplaced its $20 key support. SOL did not exceed $20, mainly due to a retest of lower price factors.
The value of SOL continues to remain above $11, which shows a signal for the value of SOL on the weekly chart and on different timeframes. If the value of SOL loses this area of curiosity, it will lead to a decrease in costs and panic may arise.
Weekly Resistance at SOL – $20.
Weekly help with SOL – $10.
Estimating the value of SOL in a daily (1D) chart
SOL remains significantly weak on a day-to-day basis, trading above $14 after seeing SOL drop from $35 to $11 as the market continues to be uncertain.
SOL’s value continues to struggle as value targets to bounce further support from this area. The value of the SOL must be returned and traded over $20 for a short-term assistance refund. $20, which resembles the Fibonacci retracement at 38.2%, strongly opposes the SOL.
If SOL turns into the $20 range, we may see additional SOL rallies into the $30 range or beyond.
Every day resistance to SOL – $20.
Everyday Help for SOL – $11.
Featured Picture From zipmex, Charts From Tradingview
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