Timing of appearance of signal on Solana's chart remains significant
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That said, the appearance of a sell signal on the TD Sequential does not guarantee an immediate price drop, but it might indicate a profit-taking risk.Shiba Inu Is Sleeping: When Will It Wake Up? Solana on Reversal Support, Is Bitcoin Finally Safe on $60,000?meeting minutes are set to be released on Wednesday this week.
Markets have fully priced in a Fed rate decrease in September; however, the odds of a 50 basis point reduction are lower.At the time of writing, SOL was down 1.75% in the last 24 hours to $142. If the current declines further, Solana might go under $130, which is a critical support to keep an eye on.Instead, a price drop below $130 might indicate that selling pressure is intensifying. Solana may retest the key support level of $116.
If the price of Solana maintains its present level, bulls will attempt to push Solana over the moving averages. The positive trend is expected to pick up above $163 and even reach $193 next.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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