SOLUSDT is currently forming an ascending channel, a technical pattern where the price is moving between two upward-slanting parallel lines. This pattern suggests that the price is in a bullish trend and has a bullish outlook.
However, the price recently faced rejections at the 0.618 Fibonacci level resistance, which is a key technical level for traders. The failure to break above this level raises some concerns about the strength of the bullish trend.
Despite this, the current focus is the static support at the $23 area. If the price falls below this level, it could signal a potential trend reversal and the next target could be the $20 area. As a result, We are closely monitoring the $23 area to determine the future direction of SOLUSDT, so According to Plancton's strategy, we can set a nice order ––––– Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ black structure -> <= 1h structure.
––––– Follow the Shrimp 🦐
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check how the static support worked! ONLY IF the price is going to lose it. You must have a strategy!
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bearish impulse until the weekly support if the price is going to lose the 4h static support
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the price must hold it
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Still testing the support
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the price is testing the support right now! Don't miss it a Possible MTB and CPS strategies
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Cleat breakout and retest. Now the price is testing the support More if the price is going to lose it