Solana SOL Eyes Key Support At $31
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Solana SOL trades below $35 against Tether (USDT) after flipping its support into resistance in recent weeks. The price of BTC failed to sustain its bullish structure as it breaks below key zones, this breakdown in prices affected other altcoins like Solana leaving investors confused as to where the market is headed.
From the chart, the price of SOL saw a weekly low of $31, which bounced from that area and rallied to a price of $44 after showing great recovery signs in recent weeks.
SOL’s weekly candle closed with a bullish sentiment with the new week’s candle looking bearish showing signs of weakness after being rejected from $44.
The price has struggled to gain traction as it attempts to hold key support.
If the price of SOL on the weekly chart maintains this structure, it could quickly return to $31, which serves as key support. To avoid falling below $20, the price of Bitcoin must hold this support zone.
Weekly resistance for the price of SOL – $44.
Weekly support for the price of SOL – $31, $20.
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