Solana (SOL) investors are getting serious opportunities. So what advantages does price volatility offer? Solana ( SOL ), who took a breather with the $82 ATH he saw, became the most profitable altcoin of the past days.
Solana, which has achieved significant growth in its war against Ethereum ( ETH ), has increased its mobility to serious levels, especially for the network. So it uses a lot of crypto projects and networks and Solana offers them a more attractive environment than Ethereum. Let’s examine the recent drop and potential moves.
SOL (SOL )
Solana, which has risen 5% in the last few hours, continues to find buyers at around $ 74. Many investors saw today’s drop as a buying opportunity. Although the price, which retreated to $ 66 during the day, could not show a serious recovery, it managed to turn its direction up.
Solana ( SOL ) price is expected to continue its rise as long as it holds above $58. However, you should be wary of Solana (SOL), which may make movements between $80 and $58 depending on the Bitcoin price. The price, which maintains its long-term bullish projection, may experience minor pullbacks similar to the daytime one.
Solana (SOL) Chart Analysis
At around 14:00 pm on the 4-hour chart, the RSI dropped to 28 levels, which is the oversold zone. Panic selling by short-term investors drove the price down to $66. However, since the 64 and $ 66 supports are strong for now, he turned his nose up again by getting a reaction here. Currently, on the 4-hour chart, the RSI has moved above the neutral level and has reached the overbought zone. What does it mean? There are many more buyers than Solana (SOL) traders who are selling and the price may continue to rise.
The price must lose the $64 support hard to initiate a critical correction. Afterwards, there will be a pullback to $58. However, the price remaining above $58 still maintains its bullish potential, with the majority of Solana traders going to see a pullback above $58 as a buying opportunity. You can open spot positions by stopping a little below this level. But keep in mind that cryptocurrency markets are extremely risky. In addition, the information and evaluations shared here do not include investment advice in any way. A sudden FUD may even cause the price to drop 90%.