I want to warn those who have open LONG positions on #SOLANA. In the local perspective, we can expect a decrease in the asset down to $92.5 as a head and shoulders pattern has formed on the 1-hour and 4-hour timeframes.
The situation is also negative on the daily and weekly timeframes. Since the last local price high on February 14th, I have been seeing selling pressure. The week also started negatively.
However, the drop may not be as deep, as we have support in the form of the 200-EMA and the strong Fibonacci 0.236 level, which is at the round number of $100.
Therefore, I believe it would be wise for those trading with leverage to reduce their positions, and for those with extra funds to place buy orders at the following levels:
$100 $96 $92.5
In the global perspective, after this correction, I expect growth towards $150.
This is not financial advice, everything you do, you do at your own risk!