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Mastering Crypto

08/06 03:22

Solana price analysis

Solana rebounded off the strong support at $22.30 on Aug. 4, indicating that the bulls continue to protect this level with vigor.

If the price rises above the 20-day EMA ($23.84), it will suggest that the SOL/USDT pair could march toward $25.68 and subsequently to $27.12. This remains the key resistance to watch for on the upside because a break above it will signal a potential new uptrend.

Meanwhile, the bears are likely to have other plans. They will try to sell the recovery to the 20-day EMA and sink the pair below the support zone between $22.30 and the 50-day SMA ($21.38). If they manage to do that, the pair may tumble to $18.1691292199416.png

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