Short term I have a neutral-bearish view on SOL. Playing the edges of the current balance. We are near Larger Time Frame support levels though. Any selling below the currently balance will likely find buyers at each level lower.
Currently we have a failed breakout in play of the October balance below 2920. We could revisit the 2 High Volume areas of the balance at 2723 and 2573. This Is my primary scenario A. Alternatively, scenario B, NPN stabilizes above 2920 level for a shot higher back to 3000 and above. Levels in RED are intra-day levels to watch.
BTC couldnt break out of the main downtrend and found sellers at $11500-600. Seems a test of $9200-8900 is imment. I would be buying at the spot with a stoploss below $8400 with a 4 hour close. IF this last support of $8400 breaks, I believe we are heading much lower to $3000-4000 and the current rally could have been a big bull trap.