Technical Analysis for SOLUSD for 26th October 2022
Solana Pulling Higher from September Lows, SOL Might Retest $38
Past Performance of SOL
Solana Technical Analysis
Higher highs relative to the lower BB point to a possible shifting momentum. However, trading volumes of the past four to five trading days have been low, meaning these upsides might not be with higher participation, an indicator of apprehensive traders. All the same, this can change, especially if there is a decisive break above the dynamic resistance line, the middle BB, confirming gains of the past three trading days. In that case, traders can load the dips above $27, last week's lows, targeting $38, or September 2022 highs.
What to Expect from SOL
SOL is riding the crypto revival, possibly impacting sentiment. As it is, the bullish engulfing bar of October 25 may be the foundation for a leg up toward September highs, an opportunity for aggressive traders.
Resistance level to watch: $38
Support level to watch: $27
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