Shop Sephari

Jonathan Morgan Jonathan Morgan
Independent Analyst

Solana price staved off another significant capitulation move – a condition it has been flirting with since late January 2022. The recent collapse below the $100 price level enticed a large number of longs to leave their positions and new short-sellers to enter near the bottom. If support holds, Solana will begin its road to $144, but it first needs to test $115.
Solana price has the single most extensive collection of resistance levels ahead of it above $110. The $115 area contains the following technical levels:
A positive development for Solana price bulls is the Composite Index oscillator returning to neutral conditions after reaching historical highs. Additionally, the Optex Bands dropped below the overbought zone, and the Relative Strength Index remains above the first oversold level in bear market conditions at 30.

SOL/USDT Daily Ichimoku Kinko Hyo Chart
If Solana price can rally to form a daily candlestick close at or above the $115 price level, then a renewed uptrend is likely to occur with a target near the next primary resistance cluster at $144. However, if bulls fail to close Solana price at least above the Tenkan-Sen, then a bearish continuation move towards the 2022 lows at $82 is highly probable.
 
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Vasil hard fork is scheduled for September 22. Analysts evaluated Cardano’s potential to climb above all-time highs of $3.01 ahead of the massive event.
Bitcoin price has not only swept key swing lows, as noted in last week’s articles, but it has also reached its first recovery level target. While the recovery rally was as quick as it was a surprise.
Shiba Inu price shows a strong adherence to the immediate support level despite the recent crash. However, investors need to be careful as the current position of SHIB could push it either way.
ApeCoin price has been on a massive downtrend as most altcoins have in the last month. However, APE seems to be coiling up to trigger a massive and explosive recovery rally. 
Bitcoin price has not only swept key swing lows, as noted in last week’s articles, but it has also reached its first recovery level target. While the recovery rally was as quick as it was a surprise, investors can hope for a minor retracement to get on the next leg-up.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

source

Shop Sephari

Leave a Reply