Solana [SOL] hits $24 hurdle and retreats — Bulls can bid here

Solana [SOL] faced rejection after hitting a key FVG zone. A likely rebound could face similar resistance unless BTC surges above $29k.

, the Solana network has seen increased traction lately, with trading volumes surpassing pre-FTX levels. Could it prop up SOL’s value in the short term?, SOL could retest key support and offer new buying opportunities.At press time, sellers had the upper hand on the market, as the price action was below 50-EMA and 1000-EMA. In addition, the RSI had slid near the oversold territory while the On-balance Volume dipped further – Confirmations of elevated short-term selling pressure.

A pullback retest and increased demand at the support level could see SOL rally toward the Fair Value Gap of $23.19 – $23.98. The above level offer strong resistance toward SOL’s recovery. Further uptrend above the FVG could see SOL hit the supply zone at $26. A close below $19 will invalidate the bullish thesis above. However, the drop could slow at March swing low near $17.30.Solana [SOL] Price Prediction 2023-24

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