Solana’s price in the short term is consolidating strongly after falling off a huge cliff. And therefore the possibility of a retest towards the lower levels is quite high. The price after the bearish break of the descending wedge, the SOL price fell to the support of $80. The RSI fell below 30 where it could not recover within the downtrend. However, in the long term, the SOL price shows a substantial upward trend.
The SOL price is moving according to the chart and started a slow but steady recovery. The Asset is consolidating at levels between $93 and $96 in a couple of days showing a healthy accumulation. If the asset goes according to the chart, then it may witness an interim uptrend and reach the overhead resistance at $130. However, there is a clear downside possibility here as it is one of the highly liquid areas. And many traders could withdraw their holdings in the middle of the FUD market. If the SOL price breaks above these levels, then it may reignite a notable bull run.
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Terra (LUNA) price is holding within crucial support levels since the last trading day and an attempt to break above these levels is rejected. The price of the first hours of trading is running out and is again approaching the lower support. The short-term RSI is sinking and hovering below 40, while the MACD shows mounting selling pressure. While in STF the price shows a bearish trend, in HTF the trend is still a bit skeptical.
LUNA price after a drastic downtrend on the higher time frame is trending inside the crucial support levels of the last trading day. While the last day ended on a bullish note, current day trading appears to be slightly bearish. And therefore a strong rebound from these levels is the need of the hour. The RSI on the HTF has shown a slight divergence from a downtrend, while the MACD shows an easing of selling pressure. Therefore, a noticeable turnaround can be expected in the next 24 to 48 hours.
This post Solana (SOL) Price Below $100, Terra (LUNA) Price Below $50, What’s Next?
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