Altcoins News
By Dan Saada
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Ichimoku Cloud Paints a Bearish Picture. One of the primary technical indicators highlighting the bearish trend is the Ichimoku Cloud.
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DMI Indicator Shows Sellers in Control. Another key technical indicator to consider is the Directional Movement Index (DMI), which…
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The Death Cross Signals More Downside. Solana also recently formed a death cross, which is another bearish signal for the cryptocurrency.
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Key Support and Resistance Levels. Solana is currently approaching a critical support level at $120.
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Conclusion. Solana is currently in a bearish phase, with multiple technical indicators signaling further…
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Solana (SOL) has been experiencing a significant downturn recently, losing over 6% in the past week.
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The Kumo (the cloud) ahead is red and descending, signaling strong resistance and indicating that the price is likely to remain under pressure.
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Solana has been struggling to break above short-term resistance levels and remains stuck within a downward channel.
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Another key technical indicator to consider is the Directional Movement Index (DMI), which measures the strength and direction of a trend.
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Alongside the rising ADX, the +DI (positive directional indicator) has dropped from 17.32 to 8.82, while the -DI (negative directional indicator) has climbed to 31.09.
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Solana is currently approaching a critical support level at $120. If this support breaks, the price could dip toward $112 and potentially fall below $110 for the first time since…
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On the other hand, if buying pressure returns and bulls manage to step in, Solana could experience a rebound. The first resistance level to watch is at $136.
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