- In Solana’s 3-hour chart, the $17.73 level stands out as a critical support and can continue the uptrend with strong buying.
- Permanent closures above $18.46 could be a positive development for SOL and could lead to targets such as $19 and $20.
- According to the daily chart, the support zone between $17.50 and $16.27 is of critical importance. Buying reactions from this range can help initiate SOL’s uptrend.
According to Solana’s 3-hour technical chart, it can continue the uptrend by showing strong buying reactions at the $17.73 level. Permanent closures above $18.46 could be the start of a new uptrend for SOL and could lead to targets such as $19 and $20.
MEDIUM-TERM SOL ANALYSIS
Looking at Solana’s daily technical chart, it continues to trade below the critical support of $19.25. At the time of writing, the SOL price is around $18.20 and has experienced a drop of over 6.40% today.
When focusing on the critical support and resistance levels of Solana, we see that the nearest critical support zone is between $17.50 and $16.27. If the SOL price falls into this support range and receives a strong buying reaction, it can initiate the uptrend from this critical support level.
If the SOL price initiates an upward movement from the $17.50 to $16.27 support range, the initial targets will be $19.25 and $22.23. However, if the SOL price closes below $16.27 on a daily basis, it can extend the downtrend to $15. Therefore, spot investors should pay attention to daily closures below $16.27 in particular.
SHORT-TERM SOL ANALYSIS
Looking at Solana’s 3-hour technical chart, we see that the critical support level of $17.73 is met with strong buying reactions. If the SOL price continues to rise strongly from the $17.73 level with buyers, it can initiate a new uptrend up to the $18.46 levels.
If the SOL price achieves sustained closures above $18.46, it may want to realize the next upward movement towards the $19 level. If the SOL price can close above $19, the upward target can rise to $20. However, if the SOL price fails to surpass the $18.46 resistance, it can continue the downward movement back to the $17.73 level.
SOL investors should carefully monitor the 4-hour candle closures in the support and resistance zones mentioned in the analysis.
