The price of SOL looked strong in the early part of the week
The daily chart for SOL shows it is trading at $38.7 below the 50 & 200 exponential moving average after a reject from reclaiming this region early this week.
This means SOL will need to break above this resistance claimed earlier; this has been a region SOL has struggled to reclaim on the daily chart.
The volume of SOL indicates there are no buy activities due to the recent incident that has affected the price of SOL.
For SOL to trade higher in price, it needs to break this daily resistance of $40.9; else, we could see some pullbacks to the region of $36.6 if bulls do not step in.
The region of $36.6 is a strong demand zone where more buyers in recent times have seen SOL in a good position to accumulate.
Major resistance on the daily chart – $40.9.
Major support on the daily chart – $36.6, $32.
This means SOL will need to break above this resistance claimed earlier; this has been a region SOL has struggled to reclaim on the daily chart.
The volume of SOL indicates there are no buy activities due to the recent incident that has affected the price of SOL.
For SOL to trade higher in price, it needs to break this daily resistance of $40.9; else, we could see some pullbacks to the region of $36.6 if bulls do not step in.
The region of $36.6 is a strong demand zone where more buyers in recent times have seen SOL in a good position to accumulate.
Major resistance on the daily chart – $40.9.
Major support on the daily chart – $36.6, $32.
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