Solana Technical Analysis Report  1 October, 2024

Solana cryptocurrency cab be expected to fall further toward the next support level 140.00, low of the previous correction ii.

– Solana reversed from strong resistance zone

– Likely to fall to support level 140.00

Solana cryptocurrency recently reversed down from the strong resistance zone located between the pivotal resistance level 160.00 (which has been steadily reversing the price from the start of August, as you can see from the daily Solana chart below), upper daily Bollinger Band, 61.8% Fibonacci correction of the earlier sharp downward impulse C from July and the resistance trendline of the daily up channel from the start of September . The downward reversal from this resistance zone stopped the earlier impulse waves iii and 3.

Given strength of the nearby resistance zone and the predominantly bearish sentiment that can be seen across the cryptocurrency markets today,  Solana cryptocurrency cab be expected to fall further toward the next support level 140.00, low of the previous correction ii.

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