Solana's price remains in the support zone!
2024-12-13
Category: None

Hello everyone, I invite you to review the SOL chart in pair with USDT on a one-day time frame.  As we can see, the price of salt was moving in a downward trend channel, from which the price came up, and the increase itself, as is often the case in such a situation, is close to the height of the channel in which we were moving.       

Next, we can see how the price increase to the upper limit of the resistance zone from $238 to $261 has been rejected, only breaking it can result in an increase to the strong resistance at $298.  

However, here you can see how the price quickly returned to the lower range of the zone, from which the breakout resulted in a quick return to the support zone from $203 to $185.  Currently, the upper limit of the zone is maintained by the cane, but if we see a rebound again and the zone is broken, the price may quickly return to around $165.       

When we look at the MACD indicator, we will see that we are still in an upward trend, but the recent recovery has made a lot of room for possible further increases.