SOLANA has been on a tear lately. After being bought up in a flash after the recent bitcoin crash, it currently trades in a descending channel while sitting on a local support level that could push it upwards to new highs. However, after zooming out, the bigger picture suggests a slightly bearish scenario unfolding. SOL's been forming a broadening wedge lately and is losing its parabolic momentum. I believe it still has some juice left before going on a corrective move downward. Always use stoploss to avoid getting trapped in a losing trade. It's all speculation after all!
Trade closed: target reached:
Entered short position at 174, exited at 144.