Aliens TLDR

Despite the strong bounce from the $18k lows, Bitcoin [BTC] has a bearish outlook on the longer timeframe charts.

Yet, even though Bitcoin languished near the $20k mark, Solana [SOL] has been able to post decent gains in the past couple of weeks.

At press time, it appeared to retest a former supply zone as demand and presented a buying opportunity.

Preceding this move, April and May had been extremely bearish for Solana.

The retracement levels showed that the 38.2% and 50% retracement levels have acted as resistance in the past week.

Therefore, in the next few days, this same area could act as demand once more and SOL might be able to rally.

On the H12 chart, the RSI climbed back above the neutral 50 line a few days ago and retested it as support.

If SOL can defend the $37 demand zone, another move higher would be more likely for Solana