Salt It is caught during a constant bear period due to a significant decrease in a wider cryptographic market, and its price has dropped by almost 23% over the past week. After this solid moves down over the past few days, Altcoin can be set to recovery of prices, because promising trends are developing on the Sola chart.
The Gaussian channel pattern provides mighty support for Solana
Optimism blooms again when Solana shows the potential of rush of growth after a higher volatile period. Crypto Expert and investor Trader Tardigrade identify An encouraging trend on the Sola chart, with a stubborn model ensuring mighty support for the price.
SALTwho has experienced significant sales pressure is currently near key technical areas that could change its price trajectory. Trader Tardigrade emphasized that Sol has created a Gauss channel pattern in a weekly frame, which signals a growing shoot.
It is worth noting that the middle belt of the Gauss channel formation provides Solan’s support. At this point, the cryptographic expert emphasized that AltcoinThe downward trend is expected to ponderous down or will witness the price reversal.
However, whether Solana can overcome key levels of resistance and raise again, will also depend on the continuous momentum and the mighty demand for purchase. Meanwhile, some achievements, such as Memic coins fatigue and massive $ 1.7 billion SOL token unlocking This weekend solid bear pressure for resources.
While these changes may indicate the impending pressure of the bear, Tardigrade Tardigrade remains optimist as to the long -term Sol’s results. In the stubborn mood of the expert is supported by the persistent growth of the Ecosystem Ecosystem Solana and recovery after supply disturbances in the past.
Given the current variability in the price of Sola, the indicators on the chain disclose that investors seem to be in a state of fear. This shift of investors’ moods indicates a rapid reduction in immense SOL investors, commonly considered to be owned by whales.
Experienced technical analyst and salesman Ali Martinez Reported The decrease in the portfolio affects over 10,000 SOL in the last month. The decrease raises concerns about whether these immense investors change their location or accept profits, waiting for possible collections of prices. Such Moods of feeble investors Risking Sola prices to extend its inheritance movements to lower levels.
The volume of the SOL transfer sees a significant decrease
Investors’ trust and interest are also reflected in a edged decrease in the volume of SOL transfer, which indicates reduced network activity. The reduction of the transfer volume implies lower demand for transactions on Solana Blockchain.
Data from Ali Martinez can be seen This volume of transmission SOL has dropped from $ 1.99 billion to just $ 14.57 million. This edged decline occurred within 3 months, especially since November last year. Since Altcoin has key levels of support, this development questions the sustainable development of its position above these zones.
A distinguished picture from Adobe, chart from TradingView.com
