Can Solana traders expect a move to $18 after the bounce from $12.5?

highlighted how a bounce could occur at the $13.5 region. In recent hours, SOL dropped much further to reach $12.07, but it did see a sharp reaction. In doing so, it highlighted the formation of a range as well.Source: SOL/USDT on TradingView

Another aspect to highlight was the formation of a range between $18.3 and $12.35, with the mid-point of the range at $15.33. This value has acted as support and resistance in recent days. The buying pressure at the $12.3 mark was encouraging, but it was 11.56% beneath where the price was trading, at the time of writing. The optimistic take-profit price sat at $18.3, almost 30% to the north. Traders looking for a better entry can focus on the fair value gap that SOL left in the wake of its surge from $12.5.

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Solana drops to $13.5, can traders expect a short-term bounce from this levelDisclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Bullish order block on lower timeframe spotted Futures markets did not see another build-up in short positions FTX filed for bankruptcy. Merely a week ago it was regarded as a giant in the industry, possibly […] LOL
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