Resistances and supports, which one is stronger?
Hello, dear TradingView members
SOL has recorded an 18% price drop in the past week. The collapse that occurred the previous day confirmed the bearish corner pattern. With this strong bearish move, Solana has the potential to enter a bearish trend if the current support in the $34.66 - $37.4 range holds. If the support signs can be seen on the chart, Solana can grow to the $52 range this time.
But if the current support is lost and the strong bearish candle closes below the $32 level, the price can continue to fall to the first support area of $23.8 and the second support area of $21.4. This support has a stronger reaction potential for Solana due to the overlap of more reactive surfaces. Also, Solana's range could be between the current and lower support at $32.
Good luck!
SOL has recorded an 18% price drop in the past week. The collapse that occurred the previous day confirmed the bearish corner pattern. With this strong bearish move, Solana has the potential to enter a bearish trend if the current support in the $34.66 - $37.4 range holds. If the support signs can be seen on the chart, Solana can grow to the $52 range this time.
But if the current support is lost and the strong bearish candle closes below the $32 level, the price can continue to fall to the first support area of $23.8 and the second support area of $21.4. This support has a stronger reaction potential for Solana due to the overlap of more reactive surfaces. Also, Solana's range could be between the current and lower support at $32.
Good luck!
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