SOLUSDT: Extending the downtrend since the end of the month!
2024-10-11

SOLUSDT has been stuck in a downtrend channel since late September. Accordingly, weak recoveries have failed to overcome the EMA 34 and EMA 89, indicating that buying power has weakened significantly. The resistance zone of $141 - $142 is a significant barrier, and it is unlikely that the price will be able to overcome it.

The technical outlook highlights that selling power is still very strong, causing the price to quickly slide down to the important support zone of $122. This is not only a technical support point but also the next decisive level. Without strong momentum from the buyers, the price will have a hard time breaking out of the current downtrend.