Solana can witness an upward movement

27 Eyl 2023

The price of Solana is below the two moving average lines of 100 and 200 days, which can be concluded that the trend is still downward. The price of SOL is expected to continue to fall. Solana's main support range is around $17.6 (blue line), which has played the role of support and resistance many times, and has been aligned with the 0.61 fib correction level (from $12.8 to $32). In addition to this range, the main uptrend line of SOL is also positioned as a strong support below the current price. The intersection of this trend line and dynamic support line can be a good entry point for Solana bulls. In this case, there is a possibility of price reversal and trend change from this range. If the mentioned ranges are broken, the price of $14.8 (green dashed line) will be the next SOL support.