SOL/USD quotes are trading at 209.28 and continue to move as part of the fall and the beginning of the “Head and Shoulders” pattern. Moving averages indicate a short-term bullish trend for Solana. Prices broke through the area between the signal lines downward, which indicates pressure from the sellers of the asset and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to develop a correction in the value of a digital asset and a test of the resistance level near the area of 215.05. Where can we expect a rebound again and the continuation of the fall in the Solana rate with a potential target below the level of 185.05.
Solana Forecast November 25, 2021
A test of the trend line on the relative strength index (RSI) will be in favor of falling quotes and the SOL/USD rate. The second signal will be a rebound from the lower border of the Head and Shoulders reversal pattern. Cancellation of the coin drop option will be a strong growth in the value of the asset and a breakdown of the 235.05 area. This will indicate a breakdown of the resistance area and continued growth in the cryptocurrency rate with a potential target above the level of 265.05. With the breakdown of the support area and closing of quotations below the level of 205.05, we should expect confirmation of a price drop.
Solana Forecast November 25, 2021 suggests an attempt to correct and test the resistance area near the level of 215.05. Where can we expect a rebound and the continuation of the fall of SOL/USD to the area below the level of 185.05. An additional signal in favor of reducing Solana will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 235.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 265.05.
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