📊Solana (SOL) Price Analysis 🌞

On October 9, Solana (SOL) closed below the 50-day Simple Moving Average (SMA) at $141, but the bears were unable to push the price below the nearby support level of $133.

Current Market Dynamics 📈

‱ Recent Action: On October 11, bulls are making a concerted effort to push the price above the moving averages. If successful, the SOL/USDT pair could rise to $152.

‱ Resistance Levels: If the price surpasses $152, it could continue climbing to the next resistance level at $164.

Bearish Scenarios đŸ»

However, bears are likely to attempt to defend the moving averages. If they manage to pull the price below $133, the SOL/USDT pair could decline to:

‱ $127

‱ Solid Support: $116

Doc’s tip🎯

Traders should closely monitor the price action around these key levels. A decisive move above the moving averages could signal a bullish trend, while a drop below $133 would indicate bearish momentum, potentially leading to further declines.

$SOL

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