Today, during the Asian trading session, SOL / USD Coin was unable to stop the early-day bearish trend by taking further offers below the $ 190.00 level, in the wake of the risk of loss in the crypto market. However, the crypto market is in dire straits after Bitcoin failed to break its $ 52,000 defense zone with the US dollar.
BTC started trading significantly below the $ 50,000 support level. Bitcoin (BTC) and other major altcoins, including Solana, immediately broke their resistance, selling and showing that the mood was weakening. Limit any deep losses in the SOL / USD coin. The SOL / USD pair is currently trading at 192.971 levels and is strengthening in the range between 186.029 and 195.602. Despite the many advances in the crypto world, the mood in the crypto market is blinking in the red, perhaps due to a lack of relevant information and a festive mood. Meanwhile, billionaire Ray Dalio believes the value of Bitcoin will be limited, which will lead to a negative impact on investors’ confidence and a fall in altcoins.
Dalio, founder of the Bridgewater Associations, the largest hedge fund in the world, believes that Bitcoin could not be worth as much as $ 1 million. “Logically, there is a price limit for other items like it,” he said.
Similarly, Mexico’s third-richest billionaire has advised investors to invest in Bitcoin, which will help limit losses in the crypto market. According to the keywords, “People should avoid currencies such as dollars and euros and invest in Bitcoin instead. He described the exchange rate as “paper money and counterfeit currency” and said “central banks are making more money than ever before.”
This is not the first time that Salinas has advised people to buy bitcoin. In fact, the billionaire tweeted in November, “Buy Bitcoin now,” and described the United States as “more than any other negligent third world country.”
The US dollar failed to reverse its negative trend and continued to turn red for the day. However, reducing the risk of a highly contagious Omicron coronavirus risk combined with strong U.S. retail sales figures could encourage investors to look for risky assets instead of securities such as the US dollar. As a result, the depreciation of the Sola seems to be limited by the moderate movement of the US dollar.
The SOL / USD pair is gaining immediate support at the 185.89 level. But overall trade discrimination is ridiculous, and could lead to growth in SOL / USD. Increasing the purchase could require further growth up to $ 197 or $ 204 protection levels. The upward trend line has already been violated, indicating further downward opportunities. It may object to 191.45.
At the bottom, the SOL / USD coin could gain support at 185 and 176. A break below 176 could push the SOL / USD pair to 168 levels. RSI and 50 EMA support low trend; So, consider staying below 196 degrees. good for you!