Due to its ties to Alameda Analysis, the buying and selling agency of Sam Bankman-Fried, Solana suffered a large crash. Whereas the cryptocurrency recovered a bit over the previous couple of days, the query stays if the worst is over for SOL.
Key Assist stage: $12.Essentialey Resistance stage: $15.5
Solana crashed from $38 to $12 because the troubles of FTX and affiliated buying and selling agency Alameda Analysis amplified. It is because the latter was one of many largest traders and holders of SOL. The value has managed to seek out some help at $12, however the sell-off will not be over. The present resistance is at $15, and patrons appear absent.
Technical Indicators
Buying and selling Quantity: The every day quantity exploded and peaked on ninth November when sellers liquidated numerous tokens.
RSI: The every day RSI fell to 23 factors throughout the sell-off however has recovered considerably since then and is now discovered above 30.
MACD: The every day MACD stays bearish, and the histogram is popping flat. This reveals that the preliminary wave of sellers has been exhausted.
Bias
The bias for SOL is bearish.
Brief-Time period Prediction for SOL Worth
The market stays extraordinarily fragile, and any bearish information may push Solana even decrease. The present help shouldn’t be notably robust, and the worth might fall decrease if sellers return. In that case, the cryptocurrency may fall underneath $10.
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