FX.co ★ With Solana's technical conditions indicating weakness, there is a potential to test its nearest support level

[SOLANA]

With both of EMAs position forming a Death Cross and the RSI(14) indicator in the Neutral-Bearish area, Solana has the potential today to continue weakening toward its nearest support level.

Key Levels

1. Resistance. 2 : 129.76

2. Resistance. 1 : 123.51

3. Pivot : 119.36

4. Support. 1 : 113.11

5. Support. 2 : 108.96

Tactical Scenario

Pressure Zone: If the price breaks down below 119.36, there is potential for continued to be under pressure toward 113.11.

Momentum Extension Bias: If 113.11 is broken, the weakness will continue to 108.96.

Invalidation Level / Bias Revision

The downside bias is restrained if Solana breaks above 129.76.

Technical Summary

EMA(50) : 118.71

EMA(200): 122.92

RSI(14) : 39.22

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