SOL-“Lower Supports in Sight”

1-Day Analysis:

Big Picture: Sol has broken through the range and lost the massive support area of 77-80$. This level provided support for over 100 sessions. Now that Sol is in rapid slide, it is aiming to attack lower supports at 66$, followed by the 58$ zone. These are the breakout-based support levels, so expect a reaction at them.

On Upside The initial resistance level is projected to be 73.40, followed by 75.50. Following that, we have the 77-80 region, which had been a huge support lately but is now likely to function as a crucial resistance level.

On the Downside Sol intends to target support levels of 66 and 58. These levels are expected to function as significant price supports. Expect aggressive short-covering along these levels, and these level may draw significant buying as well.