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FXStreet crypto world market summary: Jito, Bitcoin Cash, and Solana lead the market recovery
Gate News bot news, FXStreet points out that the overall Crypto Assets market slightly rebounded last Sunday, ending last week's pump. Jito (JTO), Bitcoin Cash (BCH), and Solana (SOL) continued their rise from the previous day, performing the best in the past 24 hours. Although there was a slight pullback on Monday, JTO, BCH, and SOL are close to breaking key levels and are expected to continue their rise this week.
The price trend of SOL depicts a double bottom reversal starting from the support level of 140 dollars, with the neckline at last week's high of 168 dollars. Further upside, the key resistance trend line formed by the peaks on January 18, May 14, May 23, May 27, and June 11 is a key obstacle for the recovery of Solana.
The closing price may break through $168, which could help investors avoid bullish traps near these resistance levels. In this case, a breakout rally may test the supply area at $180.
The RSI line is at 49, indicating that it has reversed from an almost oversold area on the daily chart, suggesting strong bullish momentum. If it breaks through the midpoint and still has room to break into the overbought area, it may indicate potential for a rise.
If SOL fails to break through the resistance trend line, its stock price reversal may fall below the $140 area. If the closing price falls below $140, it may continue to pull back to $105, which is the lowest closing price so far this year.
(Source: FXStreet)
Source: FXStreet