Solana Looking for Double Bottom crypto Forex
That being said, it looks as if the $135 level is offering a little bit of support, perhaps even trying to build a bit of a “double bottom.” This is a market that is following the rest of themarket, which of course seems to be finding support in some of the bigger coins and markets such as Bitcoin and Ethereum. If that does in fact happen, that should give Solana a bit of a chance to find its footing as well.
On the other hand, if we can break above the $160 level, at that point I think that Solana will start to pick up a lot of momentum, probably completely ignoring the 50 day EMA. This would probably kick off a lot of volatility to the upside, perhaps sending Solana back towards the $200 level. Keep in mind thatmarkets tend to move in the same direction overall, so at this point you would see bullish pressure everywhere.
I do not necessarily want to start shorting Solana, but you need to keep an eye on the $120 region if you already own it , because you could find yourself in a lot of pain if we break through there, just as we would see in Bitcoin and Ethereum, which cisurrently trying to hang on to the $3000 region.
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