Hello everyone, I invite you to review the SOL to USDT chart on a one-day timeframe. As you can see, the price has fallen below the uptrend line.
After unfolding the Fib Retracement grid, we see that the price remains under the support at 0.618 fib, then we have support at $16.96, and then support at $12.80.
Looking the other way, we see that the first resistance is at $22.40, then we have a resistance zone from $24 to $26, and when we break out above the resistance at $27.26, then $29.46.
Looking at the CHOP indicator, we see that there is a lot of energy collected, on the RSI we have a sideways trend with room for a price decrease, while on the STOCH indicator we can see that the energy is used up at the moment.
After unfolding the Fib Retracement grid, we see that the price remains under the support at 0.618 fib, then we have support at $16.96, and then support at $12.80.
Looking the other way, we see that the first resistance is at $22.40, then we have a resistance zone from $24 to $26, and when we break out above the resistance at $27.26, then $29.46.
Looking at the CHOP indicator, we see that there is a lot of energy collected, on the RSI we have a sideways trend with room for a price decrease, while on the STOCH indicator we can see that the energy is used up at the moment.