MonoCoinSignal

SOL's price is still inside the main descending channel

BINANCE:SOLUSDT   SOL / TetherUS
Solana price increased to the resistance range of $25-26.5 after registering a solid upward wave, and at this level, it has been accompanied by reactions, which have turned its trend into a range mode in the 4-hour timeframe.

On the other hand, on the SOL chart, a strong support area was considered in the range of 18.5 to 20.4 dollars, and encounters to this level have been associated with positive reactions.

Note that the SOL's price is still inside the main descending channel and near the channel's top.

If the resistance is broken, Solana's next target will be the $35 range. In the 4-hour time frame, the range trend between the considered levels is quite clear.

Minor resistance is located at the $23.60 area, and if there is a negative reaction to this area, the price could return to the lower support area and the bottom of the channel. The main resistance can have a valid break if strong daily candles are closed above it.

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