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Daily Technical Analysis Research 07.11.2024 – Cryptocurrency (SOLANA)

SOLANA (SOL/USD):

Following the U.S. election results, the Cryptocurrency markets experienced significant activity, particularly in the Altcoin sector. Notably, Solana saw an impressive surge, gaining over 12% by the day’s close in the post-election trading.

Daily Technical Analysis Research 07.11.2024 - Cryptocurrency (SOLANA) - Screenshot 2024 11 07 at 14.20.06 1024x605

Looking more closely at the technicals, I’m interested to see how the price responds to the current internal resistance area. If we experience short-term pullbacks, I’ll be watching for opportunities within the discount range, specifically below the 50% mark on the Fibonacci tool.

Daily Technical Analysis Research 07.11.2024 - Cryptocurrency (SOLANA) - Screenshot 2024 11 07 at 14.20.14 1024x602

 

Author

Matthew Hayward
Matthew is a well-experienced Market Analyst with a key focus on both Fundamental and Technical Analysis. He has experience in covering various market topics including Cryptocurrency, Foreign Exchange, Indices, and Commodities. He looks to provide we...
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