SOL-“Expect Choppy Price Action”

12-Hour Analysis:

Big Picture: Sol is once again trapped between a significant support and resistance level. The price is currently being stopped by 94.50 resistance, with solid support coming from the 80.80 support level. As long as this range is valid, it will most likely remain choppy between these levels.

On Upside The first level of resistance is 90, followed by 93. If the price breaks over 93, it could rise to 94.50. This level at 94.50 is being resisted by the EMA-32 and will shortly be capped by the EMA-50 as well. Both of these EMAs are important trend drivers for Sol. Sol must break over 94.50 in order for the rally to continue.

On the Downside once more we have major supports at 80.80 and 77.50 exposed. These supports have kept the price from falling any further for a few months. It is vital for SOL to maintain them, or otherwise another sale will take place, exposing SOL to 72 first, then 68 and 65.