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SOL and MATIC analysis – prices are in the shopping zone for long-term valuation

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Today we take a look at two high-cap hands of Matic and Solana, which have excellent performances in this bullrun. Nevertheless, it still is located in the accumulation zone. However, the whole market is in this zone. Today, we will look at short-term resistances and supports that need to be monitored against the fiat currency.

SOL / USD

Solana continues the long-term sideway structure, which has been current since the last week of May. The current growing leg has almost reached the last local maximum, but so far the price has not succeeded. The maxima are therefore still declining in this sideway structure. In contrast, the lows represent a horizontal area around the $ 21.00 level.

However, the growing leg is not over yet and if the price manages to exceed the last maximum, then we would monitor the next target on the surface point of control $ 43.75. However, we would still be in the accumulation zone, even though the price in this zone would reach higher maximum.

SOL / USD 4H.  Source: TradingView
SOL / USD 4H. Source: TradingView

However, the price needs to be to break through supported by volumes, but they have been stagnating at low numbers since 22 June. The price is therefore in the long-term accumulation zone with a possible purchase for long-term valuation.

MATIC / USD

Compared to Solana, MATIC achieves a market price much less retracement. However, this does not change the fact that the price is at the same stage. The last minimum was reflected from the main support zone at a level of about $ 0.67. In addition to this support zone, however, there is another on the surface point of control $ 0.795.

MATIC / USD 4H.  Source: TradingView
MATIC / USD 4H. Source: TradingView

After the rise, the price began to stagnate directly below the main resistance of the sideway structure, which is located at level $ 1.18. Before reaching this level, the price would also have to overcome the resistance, which consists of declining highs within the sideway structure. Here, too, the price continues in the sideway structure and is suitable for long-term hodling.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
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