- Should SOL trip at the $136 mark, expect a somersault down to $120—a 12% dive! 🤸♂️
- If Solana dares to close a daily candle above $146, the bearish party might just be over. Until then, keep the bear suits handy! 🐻
Oh, the drama! Solana [SOL], the stage is set for a price descent, with a script written in bearish patterns. 📉
While the crypto world stages a comeback, Solana scripts a melancholic falling wedge on the four-hour chart, à la Bitcoin [BTC].
The Technical Theatre of Solana
As the curtain rises, SOL stands at $137.5, a 4.76% slip from its yesterday’s costume. 🎭
The audience, it seems, is less engaged—a 10% drop in trading volume whispers of a half-empty theatre. 🎟️
The price dive has SOL donning the bearish head and shoulders’ neckline, a rising wedge no less, with $136 as the sartorial choice.
AMBCrypto’s director of technicals hints: a candle below $136, and SOL might take a 12% bow to $120 in the coming acts. 🕯️
Add to the tragedy, SOL’s repeated rebuff from a descending trendline since January—a stubborn resistance in this dramatic play. 🚫
A bearish engulfing candlestick completes the scene, solidifying the gloomy forecast. But wait! Could a twist be near? 🎩
If Solana storms past the trendline and closes above $147.50, the script flips—a 22% leap to $180 might just steal the show. 🚀
The Sell Signal: A Crying Call from the Analyst
A crypto maestro on X (the new stage for tweets) echoes the bearish aria for Solana. 🎶
The maestro points out the TD Sequential indicator’s about-face—a sell signal after a previous buy that rallied SOL by 22%. Plot twist? 🔄
Is this a harbinger of doom or a mere red herring? Only time (and the market) will tell. ⏳
Traders: The Bulls Refuse to Bow Out
But lo! The intraday traders, a band of rebels, bet on the bull, defying the somber mood. 🐂
Data from Coinglass reveals a bold stance at $135—$167 million worth of long positions. A brave stand! 🛡️
And at $140, another front is drawn with $83 million worth of short positions. The battle rages on! 🏹
In this grand play, the bulls dominate the stage, keeping SOL from a final bow into the abyss. 🎉
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2025-03-28 03:08