SOLANA ANALYSIS ON DAILY TIMEFRAME.
Solana continues to show a bearish outlook with a rejection of the bounce that tried to absorb the drop, but as of today marks another 3 days of decline towards the support zone where we had a low a few days ago. This indicates that the pressure on the price remains strong and that this is a consequence of the drop in BTC. The liquidation of orders and the geopolitical landscape do not help the more volatile market; however, to determine an interesting buying zone, we could wait for the price to touch the support line marked in green and also its rejection and consolidation above to think about a higher bounce. Therefore, we need to see if this can happen with a lower low, which could cause many to exit their positions and burn their orders.
So holding and spot trading could be lucrative, considering the medium and long term, as the levels today are a steal compared to the highs. However, let’s hope that the attraction of new investors and the resolution of the geopolitical crisis can contribute to strengthening the crypto ecosystem.
We must wait for the MACD to show the DIF crossing above the DEA, and for the HISTOGRAM to show buying volume that weakens the selling sequence reflected in the indicator. This will give time for the averages to align and accompany the upward movement. For now, let’s expect with more probability a drop to the support from a week ago and a range that may be the time the averages need to cross below to help push the upward movement
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