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Solana (SOL) Price Analysis
The market has been in a major bearish trend for the past few months. Solana price The critical support is currently resting at the level. Bulls use all of their strength to stop a break from these levels, but even a slight weakness could lead to a mistake. Selling volume is up to an extent that may help prevent bearish dominance. The SOL is expected to fall below $120 in the near future.
As both levels are convergent, the Ichimoku Cloud does not give any signals. Clouds are known for displaying support and resistance along with trend & momentum. Traders who are looking to take quick decisions can benefit from this. The volume does not indicate a bullish trend, which could mean a pullback in the bearish direction is imminent. A massive drop under $120 seems imminent.
Cardano (ADA) Price Analysis
You can also find out more about the following: ADA Price The token has shown enough strength recently as it traded in an ascending triangular pattern for over 6 months. The upgraded market dynamics forced the price to cut down the pattern and invite extreme bearish pressure on the token. The bears have a different trend now that the price has shifted to avoid excessive drain.
After the recent pullback, the token tested the crucial lower support below $0.4 for a short time. This was then followed by an enormous rebound. The fractals, however, continue to stay within the range of bullish fractals. DMI may appear bullish, but when viewed from a larger context it flashes bearish signals. The ADX may be rising but the levels of +Di and -Di are on their way to a crossover that is bearish. This suggests that the ADA is headed to retest its annual lows of $0.38. Fine liquidity could be attracted onto the platform.
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Sahana Vibhute
Author and cryptocurrency enthusiast, qualified to cover all events in the crypto world. My primary focus is to research minute events and bring new insight.