Solana investors can breathe a sigh of relief as the bearish 'death cross' signal has been avoided. It was expected that the 200-day and 50-day moving averages would cross, potentially intensifying selling.
Solana Chart Situation
The 'death cross' signal is typically bearish, indicating further downside. However, Solana avoided this danger. At a critical moment, the price fluctuated between $140 and $145, which helped prevent the chart from entering a 'death cross' scenario. This technical improvement may suggest some recovery of lost positions.
Key Resistance Levels
The first key resistance level for Solana is near the $145 mark. Breaking this level could open opportunities for further growth. The next critical level is $160. Overcoming these barriers could allow Solana to reach the $180 range, where the price was earlier this year.
Future Prospects for Solana
The recent price bounce gave investors hope as Solana avoided a strong bearish signal that could worsen the market situation. As long as SOL maintains current levels and moves toward the $160 mark, the risk of further decline diminishes.
Therefore, Solana avoided the dangerous 'death cross' signal, and the current price position offers a positive outlook for the future. In the coming days and weeks, it will be important to monitor resistance levels to assess further growth potential.
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