Hello everyone, I invite you to review the SOL chart on a four-hour interval. As we can see, the price came out of the uptrend line along which we were moving.
Let's start by marking the support spots for the price and we see that we first have support at $20.22 which kept the price down, but if the price goes lower then we have another support at $16.86, then support at $12.73 $.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we will mark the resistance zone from $24.65 to $26.10, then we have a second zone from $27.59 to $29.63, and then we have strong resistance at $32.27.
The CHOP index indicates that the energy has been used up and is slowly starting to bounce back, on the RSI we are moving at the lower end of the range, which may limit further price decline, and on the STOCH indicator we have a visible rebound that confirms the price rebound after the decline.
Let's start by marking the support spots for the price and we see that we first have support at $20.22 which kept the price down, but if the price goes lower then we have another support at $16.86, then support at $12.73 $.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we will mark the resistance zone from $24.65 to $26.10, then we have a second zone from $27.59 to $29.63, and then we have strong resistance at $32.27.
The CHOP index indicates that the energy has been used up and is slowly starting to bounce back, on the RSI we are moving at the lower end of the range, which may limit further price decline, and on the STOCH indicator we have a visible rebound that confirms the price rebound after the decline.