Hello everyone, let's take a look at the SOL versus USDT chart over the 1 hour timeframe. As you can see, the price is moving sideways and is above the local downtrend line.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 51.11, if the support collapses, the next one is $ 48.41 and $ 45.72 and $ 42.01.
Now let's move from the resistance line as you can see the first resistance is $ 55.82, if you can break it the next resistance will be $ 59.98 and $ 66.16.
Looking at the CHOP indicator, we can see that there is some energy left in the 1 hour range, while looking at the MACD indicator, we can see that the blue line is approaching the intersection of the red line from the top, which could change for a local downward trend.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 51.11, if the support collapses, the next one is $ 48.41 and $ 45.72 and $ 42.01.
Now let's move from the resistance line as you can see the first resistance is $ 55.82, if you can break it the next resistance will be $ 59.98 and $ 66.16.
Looking at the CHOP indicator, we can see that there is some energy left in the 1 hour range, while looking at the MACD indicator, we can see that the blue line is approaching the intersection of the red line from the top, which could change for a local downward trend.