Solana 4H - Bullish scenario #SOLUSDT
On the SOLUSDT pair, the price has been rejected twice at $46.20 on July 19th and July 30th, 2022 however we are still forming higher lows.
On the daily timeframe, the Stoch RSI is above 50 however turning bearish while on the 4-hour timeframe, we are already in the oversold zone which would lead to the following bullish scenario:
- Retracement to the first support at $39.20
- Further continuation to the downside to touch the trendline
- Rally to the resistance at $46.20.
- In case of a breakout, we would need a pullback to confirm it
Let's see if this plays out in the coming days-
On the daily timeframe, the Stoch RSI is above 50 however turning bearish while on the 4-hour timeframe, we are already in the oversold zone which would lead to the following bullish scenario:
- Retracement to the first support at $39.20
- Further continuation to the downside to touch the trendline
- Rally to the resistance at $46.20.
- In case of a breakout, we would need a pullback to confirm it
Let's see if this plays out in the coming days-
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