Solana (SOL) dey test $70 resistance as FOMC risk dey shape recovery
Solana (SOL) dey try recover after e bounce from $60 demand zone. Traders dey eye two main levels: $67 and $70.
For the weekly chart, analyst Daan Crypto Trades talk say SOL/USDT dey try to reclaim the $67 area wey before connect to the February low. If e hold above $67 e go show early shift for local market structure back to bulls, fit make price test higher weekly resistance near $79 and $95. If SOL no fit maintain momentum above $67, the rebound fit weak and e go increase chance say dem go test the $60 support again.
For the 4-hour chart, Matthew Dixon highlight say SOL dey move toward short-term target around $70. Price don dey recover through Fibonacci levels, and RSI don move up from oversold, wey show momentum dey improve. But the analyst talk say the current rally fit just be short-term relief move, no be confirmed trend change, because dem dey expect broader low later related to Bitcoin halving cycle and liquidity wey go follow.
With FOMC meeting wey near, market fit repriced rates. If them talk hawkish, e fit put pressure for risk assets like SOL and cap the upside as traders dey wait for confirmation.
Neutral
Di tok say article dey frame as possible SOL rebound, but e dey stress many times say structural change no confirm and short-term macro overhang from FOMC meeting dey.
- Bullish element: Weekly attempts wey dem dey try reclaim pass $67 and one 4-hour push go $70 match relief rally. If SOL turn $67 to support, traders fit position for retests of $79/$95.
- Bearish / limiting factor: If e no hold $67 e fit drag SOL back near $60. Plus, if FOMC result be hawkish e fit tighten financial conditions and reduce risk appetite, wey historical dey make crypto retrace when rate expectations move quick.
Like past "macro-event + resistance test" setups, market fit whipsaw round major levels till traders get confirmation. Short-term, expect volatility as SOL dey test $70. Long-term, analyst view say broader low fit come later (linked to Bitcoin halving timing) mean say today move fit no be start of sustained trend without further breakout and follow-through.