“Sol Dipped 5% Before Stabilization at $ 140, with Technical Indicators Pointing to A Potential Upside Breakout if Resistance is Cleared.”, – WRITE: www.coindesk.com
Sol Traded Between $ 135.96 and $ 142.91 Over The Past 24 Hours, Closing Near $ 140.46
- Sol Bounced Off Intrady Lows Near $ 136.75 and is Consolidating AROUND $ 140.46 Despite A 1.41% 24-HUROR DECLINE.
- A Descending Channel and Bullish Reversal Pattern Have Emerged, Supported by Heavy Volume at $ 140.40.
- Technical Resistance at $ 142.65 Must Be Breached to Confirm a Breakout Town Higher Targets.
IS Trading AT $ 140.46, Down 1.41% Over The Past 24 Hours, After Recovering from A Sharp 4.9% Decline that Took The Price from $ 142.91 to $ 135.96, Accounting To. The Asset Has Since Stabilized Between $ 140 and $ 142, with Support Forming at $ 140.40.
Solana’s EcoSystem Continues to Grow, With Recent AnnounCements Including Support for Wrapped Bitcoin (WBTC) on the Network. Analysts Remain Divides on the Outlook, with Some Pointing to A Potential Move Toward $ 200, While Other Expert A Retracement to the $ 123– $ 135 Range.
Technical Analysis Highlights
- Sol Declined 4.9% from $ 142.91 to $ 135.96, Establishing A 7.08-Point Trading Range.
- The Asset Recovered to Form A Consolidation Pattern Between $ 140 and $ 142.
- High-Volume Support Appeared at $ 140.40 Dringing The 13:00 Hourbetween 14:32 and 14:37, Sol Surged from $ 140.48 to $ 141.40.
- Selling Pressure Pushed The Price Down to $ 140.32, Then to Asssion Low of $ 140.29.
- A Descending Channel forMed with Lower Highs and Lower LowsResification AT $ 142.65 Capped Price Action Twice.
- CONCENTRATED SELLING VOLUME OCCURRED DURING The 15:10 Candle, Suggesting Near-Term Bearish Sentiment
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