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 $22.52, if the support is broken then the next support is $21.27 and $19.67.
Now let's move on to the resistance line, as you can see the first resistance is $23.57, if you manage to break it, the next resistance will be $24.25, $24.93 and $25.88.
Looking at the CHOP indicator, we see that the energy is slowly starting to rise, the MACD indicates entering a local uptrend, while the RSI shows a quick return to the middle of the range.
Let's start with the support line and as you can see the first support in the near future is $22.52, if the support is broken then the next support is $21.27 and $19.67.
Now let's move on to the resistance line, as you can see the first resistance is $23.57, if you manage to break it, the next resistance will be $24.25, $24.93 and $25.88.
Looking at the CHOP indicator, we see that the energy is slowly starting to rise, the MACD indicates entering a local uptrend, while the RSI shows a quick return to the middle of the range.