The $22.4 level was pivotal to bullish hopes of a rally to $23.7 and beyond, but the bears stood their ground and have not weakened yet.
was able to defend the $27.8k support level on 1 May and has since bounced to reach $29.2k at press time. If BTC continued to climb higher, it would likely have a positive impact on the sentiment behind SOL.The H4 market structure was bearish after the higher low at $22.9, formed on 29 April and broken on 1 May. Since then, SOL bulls were unable to break the recent lower high.
The bearish bias on H4 was outweighed by the bullish market structure on the daily timeframe. Yet, in order to initiate a rally, the bulls must consume all the sell orders placed at the $22.4 resistance zone. The OBV was flat in May, and the MACD formed a bullish crossover beneath the zero line. When combined, they showed that momentum was weakly bearish, but neither bulls nor bears were dominant.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
$22 million of Curve Finance stablecoin crvUSD minted since launchCurve Finance has launched its native algorithmic USD-pegged stablecoin on Ethereum mainnet, minting over crvUSD tokens in $22 million so far.
Read more »
![Solana [SOL] hits $24 hurdle and retreats — Bulls can bid here](https://i.headtopics.com/images/2023/5/4/cryptoamb/solana-sol-hits-24-hurdle-and-retreats-bulls-can-b-solana-sol-hits-24-hurdle-and-retreats-bulls-can-b-1653981528202915841.webp?w=640)
Solana [SOL] hits $24 hurdle and retreats — Bulls can bid hereSolana [SOL] faced rejection after hitting a key FVG zone. A likely rebound could face similar resistance unless BTC surges above $29k.
Read more »
Mad Lads comes to the rescue of Solana’s ailing NFT landscape, details insideThe arrival of Mad Lads provided the much-needed impetus to Solana's ailing NFT activity. Solana's sales volume spiked following the launch.
Read more »
Did BNB’s GameFi growth help it outshine Ethereum and SolanaBNB's April month’s achievement seemed to have continued in May as well. Santiment’s data revealed that its daily active addresses were considerably high.
Read more »
Bitcoin May 4 daily chart alert - Bulls have slight advantage
Read more »
![Polkadot [DOT] slides back to key support – Will bulls prevail?](https://i.headtopics.com/images/2023/5/4/cryptoamb/polkadot-dot-slides-back-to-key-support-will-bulls-polkadot-dot-slides-back-to-key-support-will-bulls-1653905529775824898.webp?w=640)
Polkadot [DOT] slides back to key support – Will bulls prevail?Polkadot [DOT] seems ready for price reversal. However, its short-term prospects depend on how the market will price in the FOMC announcement.
Read more »