SOLVUSDT → Retest of resistance in a bearish trend

4 mar

SOLVUSDT is strengthening within a neutral range, which is formed amid a downtrend. Cryptocurrency market quickly sells off potential after Sunday's news



Bitcoin is back to the selling zone, under the 90K area. A subsequent decline in the flagship could negatively impact the entire market.
SOLV is forming a range of 0.044 - 0.0292. The price is strengthening and tends to the zone of interest and liquidity. Against the background of key preconditions (downtrend, weak market, absence of driver, falling bitcoin) we can assume that the coin has no potential for further growth and the current maneuver may end up with a false break of resistance followed by a fall.

Resistance levels: 0.0436, 0.0439, 0.0494
Support levels: 0.0369, 0.0345

From the opening of the session, the daily ATR will be exhausted by the time resistance is reached, thus there will be no potential for resistance breakout. High probability of a bounce from 0.0436-0.0439 with the purpose of further fall to the key zones of interest located below.

Regards R. Linda!

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