Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 12450
Markets: 96130
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
12450
Cryptocurrencies
55.82%
Bitcoin Share
NewsBTC 2025-01-07 21:00:03

Solana Rally Stalls: Pullback To Key Support Signals Potential Correction

Solana Rally Stalls: Pullback To Key Support Signals Potential Correction

Solana’s strong rally is losing momentum as prices face a pullback, suggesting a potential correction toward the $209.9 support level. After a period of bullish gains, market dynamics and profit-taking impact its upward movement. This pullback signals a pause in the bullish trend, with traders and investors watching for signs of recovery or further decline. The $209.9 support zone is crucial for Solana, as its ability to hold will likely determine the next price movement. A successful defense could spark renewed buying interest and lead to a rally, while a breach of this support may trigger deeper corrections, impacting market sentiment. A Pullback To $209.9 In Sight For Solana Bears have taken control after the pullback at $223, overpowering the bulls and driving the price toward the critical $209.9 support level. This shift in market sentiment reflects growing selling pressure, with bears looking to push the price even lower. Bulls’ failure to maintain prices above $223 has raised concerns about the strength of the current uptrend. Related Reading: Solana Price Will Complete 1,800% Surge To $4,000 With This Formation: Analyst With the $209.9 support level now in focus, the market is at a critical juncture. If the price fails to hold at this level, it may signal a lengthy correction. On the other hand, if the bulls manage to defend the support and regain control, the market might stabilize and set the stage for another rally. The battle between the bulls and bears is now centered on this support zone, and the next price action will likely reveal the direction in which the asset is headed. Traders should remain vigilant as the outcome of this test could have significant implications for the short-term price movement. Additionally, technical indicators suggest that the rally may be losing steam, with a slight bearish divergence appearing on the RSI and a slowdown in buying pressure. A retracement to $209.9 is likely to provide the market with an opportunity to reset, offering bulls a chance to consolidate and prepare for a possible rebound. Evaluating Crucial Support And Resistance Zones For Price Direction Evaluating the key support and resistance zones is essential for predicting the future direction of the price movement. In this case, the $209.9, $194, and $164 support levels are critical to watch. Related Reading: Solana Back Above Weekly & Monthly Support Levels – Analyst Expects New ATH Should the price decline, these levels may act as strong cushions, potentially preventing more drops. If the price fails to hold at $209.9, the next support level to watch is $194, followed by $164, which might signal a deeper correction. Meanwhile, the $240 and $260 levels stand as critical resistance zones once the bulls manage to regain control at $209.9. A breakout above the $240 resistance is set to trigger a notable surge, possibly driving the price toward the $260 resistance. These levels serve as key barriers, and a successful break above them could indicate an extended upsurge, signaling continued strength. Featured image from Unsplash, chart from Tradingview.com

Most Read News



Cryptohopper
hardware wallets, hardware , wallets, Crypto Currency, Cryptocurrency hardware wallets, Crypto Apparal, crypto wallet, Cryptocurrency wallets

Market Cap
24h Vol
55.82%
Bitcoin Share
694
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.