In the last quarter of 2023, the most prominent alternative coin project to emerge in the crypto market is undoubtedly Solana. This high-profile layer-1 network has made a significant contribution to the airdrop event and the hype surrounding the Memecoin token. The recent emergence of scams within the ecosystem has caused concern and concern among users, directly impacting SOL's **.
Solana Technical Analysis.
Solana's primary pattern structure on the four-hour chart is the formation of a descending channel. This pattern structure provides important clues for many investors, and a breakout without any support or resistance is significant for the short term. In particular, the recent formation has received support from the EMA 200 level, which is a positive sign for development in the short term.
On the four-hour chart, the most important support levels for Solana are75 and 8720。In particular, the four-hour end fell below 90 which intersected the EMA 200 levelThe 75 level is likely to create selling pressure ahead of the SOL.
The most important resistance levels on the Solana four-hour chart are16 and 10426。In particular, at the end of the four hours, a break of $104 intersected with the formation of a resistance lineLevel 26 will significantly accelerate the SOL**.
SOL ETH Technical Analysis.
On the four-hour SOL ETH chart, the trading pair has ended its first trading day below the support line. This, along with the EMA 200 level, will cause Solana to fall in value relative to Ethereum. Investors' recent shift to Ethereum has also led to a decline in the SOL ETH trading pair.
The most important support levels in the SOL ETH trading pair are03604 and 003424。In particular, it fell below 0The 03793 level, which is a significant support in the recent **, will indicate that Solana continues to lose value relative to Ethereum.
In the SOL ETH trading pair, the most important resistance levels are04131 and 004315。In particular, a break of 0 at the end of the four-hour period intersected with the EMA 200 levelThe 03974 level will indicate that Solana is increasing in value relative to Ethereum.
**: Cosmic block view.