Hello everyone, I invite you to review the SOL chart in the USDT pair, like the predecessors, on a four-hour interval. First, we will use the blue lines to mark the downward trend channel from which the price went up.
Moving further after unfolding the Fib Retracement grid, we can mark a strong support zone in which, despite the increase, the price still remains from $20.22 to $16.98, but when we break out of it at the bottom, we can see the price drop to the area of strong support at 12.86 $.
Looking the other way, we see that the price on its upward path has an important zone from $23.04 to $24.78, then we have a second zone from $26.56 to $29.03, and then a strong resistance at the level of 32.20 $.
The CHOP index indicates that most of the energy was used in the upward movement, while the RSI and STOCH indicators confirm the exhaustion of energy in the movement, which allows for a current recovery and gathering energy for a new movement.
Moving further after unfolding the Fib Retracement grid, we can mark a strong support zone in which, despite the increase, the price still remains from $20.22 to $16.98, but when we break out of it at the bottom, we can see the price drop to the area of strong support at 12.86 $.
Looking the other way, we see that the price on its upward path has an important zone from $23.04 to $24.78, then we have a second zone from $26.56 to $29.03, and then a strong resistance at the level of 32.20 $.
The CHOP index indicates that most of the energy was used in the upward movement, while the RSI and STOCH indicators confirm the exhaustion of energy in the movement, which allows for a current recovery and gathering energy for a new movement.