SOL, ETH Near New Levels, Will the Bearish Streak Continue?
- Although SOL initially slid to a 7-day low, it recovered while ETH also followed.
- SOL exited the oversold region and is attempting to crossover to the bullish side.
- If the AO continues to push for a positive value, then ETH may form a bullish structure.
Despite recent talks of an altcoin season, assets like Solana (SOL), and top-ranked altcoin Ethereum (ETH) have not lived up to expectations. According to CoinMarketCap, SOL previously hit a 7-day low on August 1 before its 24-hour recovery to $23.70 at press time.
Like Solana, ETH also slipped for the third consecutive day, falling as low as $1,826 on the same day mentioned above. However, like two peas in a pod, ETH and SOL moved up the charts as the crypto market cap jumped to $1.18 trillion.
Solana (SOL)
SOL’s dip below $23 on August 1 represented its weakest fall since July 25. Although SOL rose high above $25.01 on July 30, the token has been subject to massive selling pressure. One of the stimulants of the plunge was the Relative Strength Index (RSI).
From the 4-hour chart, the RSI fell below the buying support on July 31 when it was aro…
The post SOL, ETH Near New Levels, Will the Bearish Streak Continue? appeared first on Coin Edition.
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SOL, ETH Near New Levels, Will the Bearish Streak Continue?
- Although SOL initially slid to a 7-day low, it recovered while ETH also followed.
- SOL exited the oversold region and is attempting to crossover to the bullish side.
- If the AO continues to push for a positive value, then ETH may form a bullish structure.
Despite recent talks of an altcoin season, assets like Solana (SOL), and top-ranked altcoin Ethereum (ETH) have not lived up to expectations. According to CoinMarketCap, SOL previously hit a 7-day low on August 1 before its 24-hour recovery to $23.70 at press time.
Like Solana, ETH also slipped for the third consecutive day, falling as low as $1,826 on the same day mentioned above. However, like two peas in a pod, ETH and SOL moved up the charts as the crypto market cap jumped to $1.18 trillion.
Solana (SOL)
SOL’s dip below $23 on August 1 represented its weakest fall since July 25. Although SOL rose high above $25.01 on July 30, the token has been subject to massive selling pressure. One of the stimulants of the plunge was the Relative Strength Index (RSI).
From the 4-hour chart, the RSI fell below the buying support on July 31 when it was aro…
The post SOL, ETH Near New Levels, Will the Bearish Streak Continue? appeared first on Coin Edition.
Read More