HomeUncategorizedBottom ahead? Solana paints its first ‘death cross’ as SOL losses 50% in January By Cointelegraph
Bottom ahead? Solana paints its first ‘death cross’ as SOL losses 50% in January By Cointelegraph
January 31, 2022
Solana (SOL) looks poised to paint its first “death cross” this week, raising fears that its ongoing selloff would continue further into February.
Notably, the SOL price’s 50-day exponential moving average (50-day EMA; the red wave) will eventually close below its 200-day EMA (the blue wave), signaling a bearish crossover, called a death cross, that typically prompts traders to sell.
daily price chart featuring its 50-200 EMA death cross. Source: TradingViewSOL/USD daily price chart featuring its interim support targets. Source: TradingView daily price chart featuring recent death crosses. Source: TradingViewS&P 500 daily price chart featuring recent death crosses. Source: TradingViewSOL/USD daily price chart featuring rebound scenarios. Source: TradingView
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Disclaimer:Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Solana (SOL) looks poised to paint its first “death cross” this week, raising fears that its ongoing selloff would continue further into February.
Notably, the SOL price’s 50-day exponential moving average (50-day EMA; the red wave) will eventually close below its 200-day EMA (the blue wave), signaling a bearish crossover, called a death cross, that typically prompts traders to sell.
daily price chart featuring its 50-200 EMA death cross. Source: TradingViewSOL/USD daily price chart featuring its interim support targets. Source: TradingView daily price chart featuring recent death crosses. Source: TradingViewS&P 500 daily price chart featuring recent death crosses. Source: TradingViewSOL/USD daily price chart featuring rebound scenarios. Source: TradingView
Continue Reading on Coin Telegraph
Disclaimer:Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.