Tamadoge Makes Noise – Is TAMA A Better Alternative To SOL?
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SOL bullish streak invalidated
Solana has reached the oversold zone
Tamadoge meme coin dubbed as better alternative to SOL
Solana (SOL) plummets as it loses the support of an ascending channel it is in and further invalidating its bullish thesis.
The crypto market is experiencing a turbulence as Bitcoin lost support from a rising wedge pattern.
According to CoinMarketCap, SOL is down by 3.27% and is currently trading at $35.48 as of this writing.
Over the past two months, SOL has been seen as aggressively bullish and may possibly reach $50 but its singing a different tune now.
Solana also loses a critical support level set at $39.5 mainly due to widespread crypto crash which pushed Solana into a bearish stance.
At this point, Solana needs to attempt to fuse at current price levels and revisit the key resistance of $39.5.
If it fails at this zone, then SOL could experience further decline. The next critical support level for SOL is now spotted at $32.4.
Judging by the technical analysis on a 4-hour timeframe, SOL wades at the oversold waters and is forming a green candle pattern.
Now, high-risk traders can go all-in and take advantage of the fear and worry exploding in the market by going long with the current price levels.
Further, RSI for SOL also supports the oversold thesis and is now heading a crypto bear market or nearing a further downtrend which calls for a search for better Solana alternatives.