INSUBCONTINENT EXCLUSIVE:
Key point:REX Shares launched the first US staked-cryptocurrency exchange-traded fund on Wednesday, giving investors direct exposure to
the 50-day simple moving average (SMA) ($156) on Monday, indicating that the bears are fiercely defending the level.SOL/USDT daily chart
Source: Cointelegraph/TradingViewOn the downside, the bulls are trying to arrest the pullback at the 20-day exponential moving average (EMA)
This suggests buying on every minor dip
If the rebound sustains, the possibility of a break above the 50-day SMA increases
The SOL/USDT pair could ascend to $168 and eventually to $185.Sellers are likely to have other plans
They will try to pull the price to the solid support at $140
Buyers are expected to defend the $140 level with all their might, because a break below it may open the doors for a fall to $126 and then
to $110.Related: SOL ETF news gain evaporates, while chart warns of another 20% dropSOL/USDT 4-hour chart
Source: Cointelegraph/TradingViewThe pair rebounded off the 50-day SMA on the four-hour chart and rose above the 20-day EMA
That signals aggressive buying at lower levels
If buyers sustain the price above the 20-day EMA, the pair could jump to $155 and later to $159.A break and close above $159 will complete
an inverse head-and-shoulders pattern, which has a target objective of $192.Contrarily, a break and close below $144 suggests the bears are
selling on every minor rally
Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
