SOL/USD quotes are trading at 88.96 and continue to move as part of the fall and the bearish channel. The moving averages indicate a short-term bearish trend for Solana. Prices have gone down from the area between the signal lines, which indicates pressure from sellers of the asset and a potential continuation of the fall from current levels. At the moment, we should expect an attempt to develop a rise in the value of the digital asset and a test of the resistance level near the area of 102.05. Where can we expect a rebound and a continuation of the fall of Solana with a potential target below the level of 22.55.
Solana Weekly Forecast February 28 — March 4, 2022
In favor of falling quotes and the SOL/USD rate, a test of the trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option of falling coins will be a strong increase in the value of the asset and a breakdown of the area of 145.05. This will indicate a breakdown of the resistance area and continued growth of the cryptocurrency rate with a potential target above the level of 175.05. With the breakdown of the support area and the closing of quotes below the level of 75.05, we should expect confirmation of the price fall, as we can see, this area has not yet been broken through.
Solana Weekly Forecast February 28 — March 4, 2022 suggests an attempt to correct and test the resistance area near the level of 102.05. Where should we expect a rebound and a continuation of the fall of SOL/USD to the area below the level of 22.55. An additional signal in favor of a decline in 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 area of 145.05. This will indicate a continued rise in the cryptocurrency with a target above the level of 175.05.
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