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Will $SOL successfully test the equilibrium zones?
The technical chart for SOLUSDT on the daily timeframe shows the price undergoing a sharp correction, attempting to find a technical stabilization zone after breaking previous support levels.
Here's the technical analysis of the current situation:
Price Action: The price is trading at $64.85, amidst clear selling pressure. The move away from the moving averages indicates the intensity of the recent downward movement.
Pivot Point (PP): Located at $67.50, this area presents the biggest challenge for buyers. Reclaiming this level is a crucial first step for any recovery attempt.
Resistance Levels: If momentum is regained and the price successfully breaks above the pivot point, the upside targets are $75.63, then $88.00, and ultimately $99.67.
Support Levels: The $60.13 level represents the nearest support level, and traders are closely watching its ability to prevent further declines.
In your opinion, will we see SOL manage to hold above the current support and return to test the pivot point (PP), or are we facing a new phase of price revaluation? 🧐
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