Hey Guys..!!
Meet again with me Wahyu Nahrul, This time I want to make a brief technical analysis of a cryptocurrency chart, the analysis I made is based on my experience and knowledge.
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Alright, let's get straight into the discussion, happy reading!!
Solana Analysis
Today, January 31, 2024, I will try to analyze the price movement of Solana technically.
Until now Solana is still experiencing a very deep correction, this can be seen by the movement of the candlestick which is very inclined towards the bottom and shows a Bearish Trend that never ends.
Confirmation of the Bearish Trend is first shown by the EMA indicator with a cross between the two EMA lines 100 and 200 which indicates a Death Cross.
But there is a different signal that is given the ADX indicator that shows a cross between the DI+ and DI- lines which Golden Cross.
Finally, if we look at the RSI indicator, it will be shown that the oversold moment that previously occurred in Solana has started to end with the RSI line moving away from the Lower Band.
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