Key Support Levels: $118, $100
Key Resistance Level: $136
The price trend took a sharp turn after touching the $136 resistance level, and since then, SOL was unable to reclaim this level. With this in mind, the next major support to consider is found at $118, and at the time of writing this, Solana is rapidly approaching it.
technical indicators
trading volume: The SOL had great buying volume during its rally, but has since declined, allowing the bears to take control of the price action.
RSI: The RSI rose to around 80 points at the height of the rally, but now, it is rapidly moving away from the overbought zone (>70 points).
MACD: The daily MACD is bullish, but the histogram shows lower highs. This indicates a loss of momentum, and this pullback could take the price back to support.
Partiality
Current bias is neutral. It is important to monitor how the price performs at the next support to assess its future prospects.
Short term prediction for SOL price
The bulls appear to be tired and they were unable to push the price above $136. For this reason, it is reasonable to expect the earlier support level to be revisited in the relatively short term.
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