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As bears see the price dropping below this key indicator, new short positions are opened and, once again, the market uses this to its advantage and pumps up the price to trigger the stop-loss orders from these shorts to raise the liquidity needed to keep the rally going.
Surviving these periods of manipulation is not easy and they don’t necessarily happen every time a bullish crossover occurs. With this in mind, investors should wait for a break below the 200-day EMA if it occurs and see how the price action behaves in the next few days.
If the price bounces and rises above this indicator again, it is a sign of a bear trap and it would support a bullish outlook for SOL.
In any case, with or without bear trap, if the price rises and keeps rallying after this golden cross, history indicates that it could deliver some strong gains for SOL investors so this is a good time to keep an eye in the price action and determine the best entry not to miss out on what a potential climb toward the $300 area for this token.
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