SOLUSDT: Strong Correction – Recovery Opportunity?
2024-11-04

On the daily chart of SOLUSDT, we can see that after a sharp increase and approaching the resistance zone around $180, SOL is now under pressure to correct and reverse. This correction comes amid increasing risk-off sentiment among investors due to the uncertain global economic situation. Moreover, inflation remains high, while central banks around the world, especially the US Federal Reserve (Fed), are still maintaining tight monetary policies.

However, SOLUSDT is still fluctuating around the support zone from the long-term uptrend line. If SOL holds the current support zone and gains buying momentum, there is a high possibility that the price will bounce back and retest the resistance zone of $180.

Good luck everyone!