Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.
Technical analysis
- SOL bounced off the main horizontal support of $220, and the price has now bounced up to the local horizontal level of $240.
- Price is in a larger range here between $220 (horizontal support) and the major horizontal resistance at $263.
- The RSI is in the middle territory, but it's below its moving average.
- Next Support: $220
- Next Resistance: $263
- Direction: Neutral
- Upside Target: $263
- Downside Target: $220
Cryptonary's take
There's no need to go heavy in detail here. SOL is just a range bound between $220 and $263, and we're expecting that to continue in the short term. Of course, a breakdown of the key levels ($220 and $263) will be the key thing to watch. Be patient with this and just let time give you/us more candles and, therefore, more information. There's no point getting stuck into (trading) something that's in the middle of a larger range. If we had to call it, we'd say there's more chance of a retest of $220 first than a retest of $260.100% Success Money Back Guarantee
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