Hello everyone, let's look at the SOL to USDT chart on a 4-hour timeframe. 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 future is $19.33, if the support is broken then the next support is $18.73 and $17.97.
Now let's move on to the resistance line, but here it is worth marking the resistance zone from $20.40 to $20.69 first, then we have resistance at $21.1, and $22.22.
Looking at the CHOP indicator, we see that the energy is slowly regaining strength, the MACD indicates an ongoing local downtrend, while the RSI is moving at the lower limit, which in the short term may give the price an upward rebound.
Let's start with the support line and as you can see the first support in the near future is $19.33, if the support is broken then the next support is $18.73 and $17.97.
Now let's move on to the resistance line, but here it is worth marking the resistance zone from $20.40 to $20.69 first, then we have resistance at $21.1, and $22.22.
Looking at the CHOP indicator, we see that the energy is slowly regaining strength, the MACD indicates an ongoing local downtrend, while the RSI is moving at the lower limit, which in the short term may give the price an upward rebound.