Hello everyone, let's look at the SOL to USDT chart on a single day time frame. As you can see, the price is moving below the local downtrend line.
Let's start with the support line and as you can see the first support in the near term is $19.84, if the support is broken then the next support is $18.16 and $16.01.
Now let's move on to the resistance line, as you can see the first resistance is $21.20, if you manage to break it, the next resistance will be $22.10, $22.87 and $23.62.
Looking at the CHOP indicator, we see that there is still energy to continue the move, the MACD remains in a downtrend, while the RSI, despite the rebound, still has room for the price to go lower.
Let's start with the support line and as you can see the first support in the near term is $19.84, if the support is broken then the next support is $18.16 and $16.01.
Now let's move on to the resistance line, as you can see the first resistance is $21.20, if you manage to break it, the next resistance will be $22.10, $22.87 and $23.62.
Looking at the CHOP indicator, we see that there is still energy to continue the move, the MACD remains in a downtrend, while the RSI, despite the rebound, still has room for the price to go lower.