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Solana Sees a Bounce From $11.85 but Bulls May Still Have a Gloomy Path Ahead

From 6 November to 21 November, Solana shed 68% of its value. It went from being valued at $36.9 to $11.3. It has not seen any higher timeframe bullish price action on the charts since then.

There was strong resistance at $13.15 and more sellers camped at $15. Until SOL can reclaim $17.7 as a support level, its higher timeframe structure would remain bearish. With Bitcoin looking weak on lower timeframe charts, it was likely that Solana would face a wave of selling pressure soon.

(by Akashnath S)

Solana Solana $254.07
+0.76%
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