The post SOLANA PRICE ANALYSIS & PREDICTION (July 30) – SOL Loses Grip Above $190 Following This Pin Bar Close, Incoming Sell? appeared on BitcoinEthereumNews.com.

Sol is significantly up weekly, but it appears to have reached an exhaustion point after breaking through several resistance in the past weeks. The price is currently down following a 2% loss overnight. Two weeks ago, Sol’s price broke out of a four-month resistance line following a monthly bounce off the key $120 support level. After the break, it advanced higher and closed that week’s price at $183. It briefly lost steam and opened last week’s trading in a bearish mode. This led to a notable reduction and the price pulled back to the $165 range in the mid-week, retesting the broken resistance line as support.  Bouncing off this support line, it advanced higher and tapped the $194 level yesterday. Unfortunately, the level got rejected and the price fell with a bearish pin bar close, indicating an exhaustion in buying. If this bearish candle pattern plays out, Sol will likely retest the support line once more before resuming buying. A drop below this support line may result in another sell-off. But looking at the recent double-bottom pattern from the monthly bounce level, bigger price movement lies ahead. While Sol’s bullish trajectory is still much intact on the macro level it currently appears to have reached an overbought zone daily.  SOL’s Key Level To Watch Source: Tradingview Losing grip above $190, Sol is now looking for a key rebound level. The closest support to watch is $175.6, followed by last week’s $165.4 pullback level. The next support to consider is $155, sitting right below the support line. If the price climbs back above the $189 resistance level (May’s high), Sol must retake yesterday’s $194 high before advancing to $204.5 and $210. Key Resistance Levels: $189, $194, $204.5 Key Support Levels: $175.6, $165.4, $155 Spot Price: $181.6 Trend: Bullish Volatility: High Disclosure: This is…

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Filed under: News - @ July 30, 2024 3:18 pm