Here's the roadmap to Solana switching its market trend – AMBCrypto News

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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice
SOL finally broke out of its descending channel after rising from the crucial $85-support. Meanwhile, the bulls managed to find a close above the 20 EMA (red).
A strong close below the yellow trendline would reinforce a bearish divergence and would position SOL to test its Point of Control (POC, red) before picking itself up to retest the $105-level. At press time, SOL was trading at $100.22, down by 3.12% in the last 24 hours.
Source: TradingView, SOL/USD
The recent bearish phase saw a staggering 71% retracement as SOL dropped through vital price points. Consequently, it fell below the 20-50-200 EMAs while the 20 EMA served as an important area of value for the traders. After forming two bearish flags during this phase, the buyers finally started to build up pressure from its POC. 
The bulls were visibly keen on upholding the six-month horizontal support at the $85-mark. Thus, they triggered a 33.3% rally from its six-month low on 24 February and breached its long-term pattern. 
Also, as the distance between the 20 EMA and 50 EMA (cyan) gradually declines, the bulls hinted at increasing their influence in the days to come. From here on, if the 3 march candlestick closes below the yellow trendline, SOL eyed at the $90-mark for a test. Following the same, it would likely look to topple the $105-110 range.
Also, the price hovered around the upper band of the Bollinger bands. This reading reaffirmed the possibility of a potential near-term pullback.
Source: TradingView, SOL/USD
After a patterned breakout, the RSI crossed equilibrium but still struggled to trigger an unrestrained rally. Over the last two weeks, it formed a bearish divergence with the price, hinting at a probable pullback towards the 46-49 support range. 
Interestingly, the MACD histogram pictured increasing momentum in favor of bulls. Even so, its lines still need to cross the midline to confirm the shift in overall sentiment. Also, the ADX has been on a downtrend, revealing a weak directional trend for SOL.
If the sellers confirm the bearish divergence at its yellow trendline, a further pullback near the $96-$90 zone would be likely. Following this, SOL might eye reviving itself from its POC and retesting the $105-$110 range. 
Besides, considering the impact of the broader sentiment on Bitcoin’s movement would also be vital in making a profitable move.

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‘Another leg’ for Bitcoin could see it hike or fall as much as…
The evidence in favor of Polkadot’s price action being an outlier
With a background in financial analysis and reporting, Yash is a full-time journalist at AMBCrypto. He has a keen interest in blockchain technology, with a primary focus on technical analysis of cryptocurrencies.
SOL traders looking for profit can enter the market at this level
Could Solana see a bounce here as it approaches a demand zone
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Solana was rejected in this area but could it break past on a second try
Here are the demand and supply areas for next week as Solana dips below $100
Solana finds some support at $130 but can it hold on to the level
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Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.

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Binance to leave UK regulators shaken and stirred with this move
How FUD affected Fantom, Yearn, and Solidly after Cronje and Nell’s exit
XLM could see a near-term revival based on these key levels
Can SEC vs. Ripple case end this year or instead ‘ANYTIME’? Here’s the clue
What latest retracement on ALGO’s chart reveals about its future price trend
The full story behind the ‘Cardano > BTC, ETH in transaction volume’ narrative
If you want to take a loan to buy Bitcoin, your best bet might be…
Bitcoin to separate from S&P500 because of the Russia-Ukraine conflict?
Analyzing BTC’s bearish and bullish price action for the week ahead
With Bitcoin recording the highest volatility jump, can $50,000 be next
The full story behind the ‘Cardano > BTC, ETH in transaction volume’ narrative
A whole lot of Ethereum [ETH] in your portfolio? Here are your LAMBO chances
Ethereum: Why ‘to buy or not to buy’ is not the question to ask
Up by 12.7% – Assessing why this L2 network’s on-chain activity shot up
Ethereum’s lowering gas fee could be a dangerous indicator for its price; here’s why
Published
on
By
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice
SOL finally broke out of its descending channel after rising from the crucial $85-support. Meanwhile, the bulls managed to find a close above the 20 EMA (red).
A strong close below the yellow trendline would reinforce a bearish divergence and would position SOL to test its Point of Control (POC, red) before picking itself up to retest the $105-level. At press time, SOL was trading at $100.22, down by 3.12% in the last 24 hours.
Source: TradingView, SOL/USD
The recent bearish phase saw a staggering 71% retracement as SOL dropped through vital price points. Consequently, it fell below the 20-50-200 EMAs while the 20 EMA served as an important area of value for the traders. After forming two bearish flags during this phase, the buyers finally started to build up pressure from its POC. 
The bulls were visibly keen on upholding the six-month horizontal support at the $85-mark. Thus, they triggered a 33.3% rally from its six-month low on 24 February and breached its long-term pattern. 
Also, as the distance between the 20 EMA and 50 EMA (cyan) gradually declines, the bulls hinted at increasing their influence in the days to come. From here on, if the 3 march candlestick closes below the yellow trendline, SOL eyed at the $90-mark for a test. Following the same, it would likely look to topple the $105-110 range.
Also, the price hovered around the upper band of the Bollinger bands. This reading reaffirmed the possibility of a potential near-term pullback.
Source: TradingView, SOL/USD
After a patterned breakout, the RSI crossed equilibrium but still struggled to trigger an unrestrained rally. Over the last two weeks, it formed a bearish divergence with the price, hinting at a probable pullback towards the 46-49 support range. 
Interestingly, the MACD histogram pictured increasing momentum in favor of bulls. Even so, its lines still need to cross the midline to confirm the shift in overall sentiment. Also, the ADX has been on a downtrend, revealing a weak directional trend for SOL.
If the sellers confirm the bearish divergence at its yellow trendline, a further pullback near the $96-$90 zone would be likely. Following this, SOL might eye reviving itself from its POC and retesting the $105-$110 range. 
Besides, considering the impact of the broader sentiment on Bitcoin’s movement would also be vital in making a profitable move.

(function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[1]=’FNAME’;ftypes[1]=’text’;fnames[0]=’EMAIL’;ftypes[0]=’email’;}(jQuery));var $mcj = jQuery.noConflict(true);
‘Another leg’ for Bitcoin could see it hike or fall as much as…
The evidence in favor of Polkadot’s price action being an outlier
With a background in financial analysis and reporting, Yash is a full-time journalist at AMBCrypto. He has a keen interest in blockchain technology, with a primary focus on technical analysis of cryptocurrencies.
SOL traders looking for profit can enter the market at this level
Could Solana see a bounce here as it approaches a demand zone
Despite the recent bounce, this can hurt Solana’s bullish prospects
Solana was rejected in this area but could it break past on a second try
Here are the demand and supply areas for next week as Solana dips below $100
Solana finds some support at $130 but can it hold on to the level
Your email address will not be published. Required fields are marked *




document.getElementById( “ak_js_1” ).setAttribute( “value”, ( new Date() ).getTime() );

Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.

source

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