SOLUSD: Rejection on the 1D MA50 turning to a buy opportunity.

Jan 8

Solana turned bearish on its 1D technical outlook (RSI = 43.075, MACD = -3.090, ADX = 38.836) as it got heavily rejected yesterday on the 1D MA50. The price approached the 0 Fibonacci level which is the top of the bottom zone of the Channel Up. Technically as long as the 1D MA200 is intact, the pattern is intact and the trend remains bullish. Since the price is this close to the bottom, this 1D MA50 rejection has turned into the best buy opportunity for the short term. Once the 1D RSI dips a little lower, it will be identical to all prior RSI bottoms of the Channel Up. This is worth turning bullish right now, we are aiming for the 0.786 Fibonacci level (TP = 340.00).


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