SOL/USDT 4H Interval Review resistance and support
Hello everyone, I invite you to review the SOL chart on a four-hour interval. As we can see, the price has broken the downtrend lines, while currently we will use the blue lines to mark the uptrend channel, from which the price also goes down.
Let's start by marking the support spots for the price and we see that we first have support at $15.91, but if the price goes lower, we have another support at $15.32, then we have a third very strong support at $14.71 $.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that currently the price failed to break out of the resistance zone from $ 16.44 to $ 17.53. However, if it manages to break it, we still have a strong resistance at $18.68, when the price breaks it, it will move towards the resistance at $20.25.
The CHOP index indicates that there is a lot of energy for the next move, the MACD indicates that we are moving in a local uptrend, while the RSI shows an ongoing rebound and we are approaching the point where the correction is often completed.
Let's start by marking the support spots for the price and we see that we first have support at $15.91, but if the price goes lower, we have another support at $15.32, then we have a third very strong support at $14.71 $.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that currently the price failed to break out of the resistance zone from $ 16.44 to $ 17.53. However, if it manages to break it, we still have a strong resistance at $18.68, when the price breaks it, it will move towards the resistance at $20.25.
The CHOP index indicates that there is a lot of energy for the next move, the MACD indicates that we are moving in a local uptrend, while the RSI shows an ongoing rebound and we are approaching the point where the correction is often completed.