Given the strength of the resistance level 200.00 and the bearish sentiment seen across the cryptocurrency markets today, Solana cryptocurrency can be expected to fall to the next support level 172.00 (which reversed the price at the start of August).
- Solana reversed from round resistance level 200.00
- Likely to fall to support level 172.00
Solana cryptocurrency recently reversed down from the resistance zone between the round resistance level 200.00 (which has been reversing the price from February, as can be seen from the daily Solana chart below), resistance trendline of the daily up channel from April and upper daily Bollinger Band. The downward reversal from this resistance zone formed the daily Japanese candlesticks reversal pattern Bearish Engulfing (which stopped the previous impulse waves iii, 3 and (3)).
Given the strength of the resistance level 200.00 and the bearish sentiment seen across the cryptocurrency markets today, Solana cryptocurrency can be expected to fall to the next support level 172.00 (which reversed the price at the start of August).
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