Price Action Analysis for Coin #SOL
The chart shows that $SOL on the 4-hour timeframe indicates the price is entering a corrective sideways trend leaning towards a dip, currently trading at $82.68. The price is moving below the descending trendline (highlighted in white) and within the lower range of moving averages, creating ongoing dynamic pressure. Based on the Fibonacci tool data, the upcoming price levels are defined as follows:
Pivot Point (PP): Located at the crucial level of $88.00, the accumulation zone shaded in yellow below it is the key barrier that buyers need to break through and hold above to reverse the trend towards bullish territory and breach the descending trendline.
Target Resistance Levels: If the price successfully breaks above the pivot point, the successive upward targets are at TP1: $90.09, followed by the second target at TP2: $93.68, reaching the targeted peak at TP3: $98.41.
Protective Support Levels: The price is currently hovering just above the first support wall shaded in red S1: $81.50, while the main support level and final safety net is at S2: $80.00.
The most likely scenario is continued tight sideways oscillation within the current accumulation zone above support level S1, setting the stage for another attempt to test the descending trendline and the pivot point again.
#SOL #Solana #Crypto #AIMONACCI
The chart shows that $SOL on the 4-hour timeframe indicates the price is entering a corrective sideways trend leaning towards a dip, currently trading at $82.68. The price is moving below the descending trendline (highlighted in white) and within the lower range of moving averages, creating ongoing dynamic pressure. Based on the Fibonacci tool data, the upcoming price levels are defined as follows:
Pivot Point (PP): Located at the crucial level of $88.00, the accumulation zone shaded in yellow below it is the key barrier that buyers need to break through and hold above to reverse the trend towards bullish territory and breach the descending trendline.
Target Resistance Levels: If the price successfully breaks above the pivot point, the successive upward targets are at TP1: $90.09, followed by the second target at TP2: $93.68, reaching the targeted peak at TP3: $98.41.
Protective Support Levels: The price is currently hovering just above the first support wall shaded in red S1: $81.50, while the main support level and final safety net is at S2: $80.00.
The most likely scenario is continued tight sideways oscillation within the current accumulation zone above support level S1, setting the stage for another attempt to test the descending trendline and the pivot point again.
#SOL #Solana #Crypto #AIMONACCI