Main Points:
The Suggested Area of Fidelity Investments’ (Sol) Funds exchanged by the exchange is delayed as the US Securities and Exchange Commission have ask for comments in public Within 21 days and rebuttals for 35 days.
Bloomberg ETF analyst James Seyffart said in an X post expecting the delay. In another post, Seyffart said that “the relationships between the SEC and the issues/exchanges should be viewed positively.”
Can Solana rise above its overhead resistance to expecting a possible line of line? Let’s review the charts to find out.
SOL PRICE OF THE PREMANCE
Solana turned away from a 50-day simple transfer of average ($ 154) on Monday, indicating that the bears were fiercely defending the level.
A positive favor with the bulls is that they did not allow the price to sink and maintain below the 20-day exponential transfer of average ($ 149). The trading range is narrow, signing a possible breakout within the next few days.
If the price goes up above $ 159, the momentum can be selected and the SOL/USDT pair can rally for $ 168 and eventually $ 185.
Conversely, if the price turns and breaks below $ 144, it suggests that the bulls give up. That can pull the price up to $ 137 and eventually to $ 130.
Related: Ethereum ‘Mega Whales’ attached harder than pre-95% rally in 2002
The pair was formed by a bearish descending triangle pattern in the 4 -hour chart, which was completed at a break and closing below $ 144. That could start a downward move to $ 137 and then to the target pattern of $ 129.
Buyers have other plans. They are trying to push the price above the downtrend line, which is improper bearish. If they manage to do that, the pair can climb to $ 159. This is an important level to guard as a close above $ 159 will complete an opposite head-and-shoulders pattern, with a target goal of $ 192.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
