The 12-hour chart showed that the market structure of SOL remained bullish. The recent swing low posted at $105 early in March is the level bears need to beat to flip the structure in their favor.
Solana is likely to climb higher and collect the liquidity at $200 and $210, provided Bitcoin does not exhibit strong selling pressure in the coming days.market capitalization The OBV has not sunk below the local lows even when prices retraced to the 50% Fib level. Hence, selling pressure was not dominant.The $1-$1.2 and $0.71-$0.8 were two strong areas of demand. A revisit of these regions should provide a good risk-to-reward buying opportunity for investors and swing traders.While the OBV remained flat, the spot CVD has shot skyward in the past three weeks. This was evidence of sustained buying pressure from eager bulls.
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