- Matthew Dixon tweeted his long-term bearish search for for Solana (SOL).
- The CEO shared that he believes there'll likely be a consuming selloff in SOL’s future.
- In connected info, the price of SOL is down 1.89% over the final 24 hours.
Matthew Dixon (@mdtrade), the CEO of Evai, tweeted this morning that his long-term search for on Solana (SOL) is that there'll likely be “a closing push to the upside earlier than a consuming selloff.” He added that the consuming selloff would perchance well additionally merely have a geopolitical theme supplied that the U.S. financial system is at point out proper.
At press time, the price of SOL is down 1.89% over the final 24 hours in conserving with CoinMarketCap. Despite the 24-hour tumble in SOL’s price, the altcoin’s weekly efficiency is peaceful in the green at +5.95%. In consequence, SOL is at point out altering fingers at $24.01.
The every day trading quantity for SOL has dropped 29.59% over the final 24 hours. This tumble in trading quantity has brought SOL’s every day trading quantity to $524,303,939 at press time.
Day after day chart for SOL/USDT (Source: TradingView)
SOL’s price is resting on the every day make stronger level at approximately $23.89 at press time after shedding below the 9-day EMA line lately. This price level would perchance well perchance be the 2d final line of protection for SOL’s price from shedding to the next make stronger level at $22.49.
Technical indicators on SOL’s every day chart are at point out neutral, suggesting that SOL’s price would perchance well additionally merely enter proper into a consolidation part heading into the weekend. At press time, the every day RSI line is resting on the RSI SMA line. Furthermore, the 9-day and 20-day EMA traces are trading nearly parallel to every other.
Must peaceful SOL’s price shut lately’s trading session above the aforementioned price level at $23.89, then the bearish thesis will likely be invalidated and SOL’s price would perchance well additionally merely search for to goal the resistance at $25.11.
Disclaimer: The views and opinions, to boot to the total data shared in this price diagnosis, are printed in appropriate faith. Readers must enact their very own overview and due diligence. Any action taken by the reader is precisely at their very own possibility. Coin Version and its affiliates would perchance well additionally no longer be held chargeable for any grunt or indirect injure or loss.
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