SOLANA (SOLUSDT) breakout or antoher dump?
SOLANA has shown signs of strength recently, first by stopping its constant fall on a historic support level with significant volume (2nd biggest trading volume in SOL's history on Binance).
Also the descending channel of the past few weekshas been broken. While these are all bullish signs to me, another historically proven resistance area is just above the price and a long-term decending resistance line is very close too. If the price was to close above 60-61 USD, then I would start hoping for a longer-term uptrend - though not necessarily a new All-TIme High in one go ;-)
On the other hand, the aforementioned two resistance factors can justify a short positionif the price failsto holdabove 60 dollars.
Also the descending channel of the past few weekshas been broken. While these are all bullish signs to me, another historically proven resistance area is just above the price and a long-term decending resistance line is very close too. If the price was to close above 60-61 USD, then I would start hoping for a longer-term uptrend - though not necessarily a new All-TIme High in one go ;-)
On the other hand, the aforementioned two resistance factors can justify a short positionif the price failsto holdabove 60 dollars.