SOL recorded its steepest historical drop during the past week!



11/12/20221 min read

SOL recorded its steepest historical drop during the past week. The currency was breaking its resistance in the $35 range. With this sharp drop, its price in the futures market even reached below $10. But a small part of this devaluation was compensated in the last two days. The condition of this currency is still very worrying. The bottom of Solana's long-term descending channel has been temporarily broken. Due to the high angle of the price meeting this support, there is a possibility of a complete break of the $10 support if the market continues to decline. In general, the support we can consider for Solana ranges from $11.85 to $14.40.

Solana has a bearish trend in most time frames. If the selling pressure increases in the market, there is a possibility of breaking this support and falling further to the range of 9.10 to 8.5 dollars. In the 4-hour time frame for a trend reversal, buyer support is needed to keep the price above the $15 range. Therefore, the return of the price below this range can make the trend downward again in 15 minutes. Changing the trend in the 1-hour time frame requires breaking the $20 resistance. To see signs of price growth, we should wait for a positive divergence on the RSI in the 4-hour time frame.

If you want access to the best analysis and receive the best crypto signals, join MonoCoin Signal. You can access futures signals, spot signals, and forex signals. Visit and get a subscription today. MonoCoin Signal sends trading signals every day.