SOL is currently in a Symmetrical Triangle (neutral) but within it, a downward curved resistance suggests aggressive selling. I think there's a good chance we retest the Trend Support line before sellers are exhausted enough to see a relief bounce. I'm on the sidelines waiting for SOL to enter my buy zone, and then I'll look for bullish divergence on the 4-hr chart for entry.
Non-technical note: A big move up by BTC vs USDT would likely increase demand for SOL and we could see a break of resistance earlier than expected. If you think BTC is bullish, then there's reason to be bullish here on SOL
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These are my personal views and not financial advice. Please do your own research before investing.
I'd love to hear your thoughts, ideas and feedback. Feel free to comment and I'll try and get back to you quickly.
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Non-technical note: A big move up by BTC vs USDT would likely increase demand for SOL and we could see a break of resistance earlier than expected. If you think BTC is bullish, then there's reason to be bullish here on SOL
----------------------------------------------------
These are my personal views and not financial advice. Please do your own research before investing.
I'd love to hear your thoughts, ideas and feedback. Feel free to comment and I'll try and get back to you quickly.
If you appreciated this analysis, consider Liking or Following. Thanks!