SOLUSDT: Opportunity to Short to 147 USDT?
2024-10-18

Hello everyone, Edward here!

Today we will analyze the SOLUSDT chart on the 1-hour time frame. As we can see, the current price is moving within a downtrend channel, with lower highs and lower lows forming continuously.

In addition, the EMA 34 and EMA 89 are intersecting and are both sloping down, indicating that the downtrend is dominant. The current price is trading around 152.45 USDT. The important resistance area is located at 153.30 USDT, and if it fails to break this level, the price may continue to decline towards the main support zone at 149.650 USDT and further to 147.70 USDT.