5 days ago
10
Key Takeaways
- SOL at $85.87, approaching SMA100 at $86.06: $0.19 gap to first resistance.
- SMA50 at $86.52 and SMA100 at $86.06 separated by $0.46: near-unified MA ceiling.
- Fibonacci 0.5 at $87.56: tested and rejected twice, remains the key resistance.
- Break and hold above $87.56: opens $91-$92 range. Failure: $83 zone target.
- RSI at 46.81, signal at 48.49: momentum slightly negative, approaching 50 line.
Solana is approaching a sequence of three resistance levels stacked within $1.69 of each other, while at trading at $85.8 at the time of writing.
The Three-Level Sequence
The chart tells a specific story about what Solana has been trying to do and what has stopped it. In recent sessions, price broke above both the SMA100 and the SMA50, cleared those levels, and reached the Fibonacci 0.5 at $87.56 on 3 separate occasions. All 3 times it failed to hold above that level and...
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