The trading week on 4 April 2022 was the beginning of the worst fall of the SOL price in history. In 1 week, sellers managed to lower the SOL price by 81%. Buyers did not offer much resistance and this is clearly seen in the trading volumes in the weekly timeframe. The SOL price has not yet found a solid bottom to complete the fall wave. The first hope for the $47 range was in vain. The next liquidation zone, where buyers have a high chance to start at least a rebound of the SOL price is $22.6. This liquidity zone was the lower limit of consolidation in April-August 2021. Maintaining this mark allowed buyers to continue their growth trend with a final target of $259.9. If the SOL price stops around $22.6, we expect a rebound to $47 and the price stops in this consolidation corridor again. Below the $22.6 mark, there are virtually no liquidity zones where buyers have accumulated their positions and for which they will be ready to fight. Therefore, if you lose control of the $22.6 mark, it will be extremely dangerous for buyers to invest in SOL. SOL Technical Analysis On The Daily Timeframe Source: https://www.tradingview.com/x/H7HZKrSa/ Analyzing the movement of the SOL price on the daily timeframe, you can see some success of buyers. Yes, the price continues its downward trend. However, since 11 May, the pressure on sellers has decreased significantly. The SOL price movement has shifted to a more steep channel of decline. Each...
