Solana breaks support. Panic or opportunity?
The situation on the Solana (SOL) chart has changed dramatically. Instead of the expected breakout, we faced a harsh reality: the price broke the $85 mark and settled around $82.60.
📊 Technical analysis:
Moving average pressure: On the daily timeframe, MA(7) and MA(25) crossed above the price around $88. Now this is a zone of strong resistance. Until we return above, the trend remains downward.
Bottom searching: The $85 level, which held back sellers for a long time, has officially been breached. Now all attention is on the local minimum of $81.86.
Volumes: Increasing red bars confirm that bears are serious.
Pessimistic: Breaking the current minimum will open the way to the next major stop at $75.60.
In the current conditions, opening positions without stop-losses is an unjustifiable risk. Let's be patient and monitor the market's reaction at key levels.
Remember that this analysis is not financial advice. The cryptocurrency market is capricious and volatile, so always keep your cool and think for yourself.
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