✴️ Solana | Lower High?
Updated
Solana has been moving within a lower high for 52 days now, since 25-Dec 2023.
On the chart we can see an interesting dynamic. When prices are set to grow, after a peak we normally get lower lows and lower highs as in a falling wedge or descending channel, shown as (1) on the chart.
After the 25-Dec peak we did in fact had this dynamic until a bounce happened 23-Jan, this produced a lower high yesterday (2) and broke the bullish continuation pattern we are used to see.
👉 If SOLUSD fails to break yesterday's high in the coming days, down we go.
This is not financial advice.
Thank you for reading.
I'll you see on the next chart.
Namaste.
On the chart we can see an interesting dynamic. When prices are set to grow, after a peak we normally get lower lows and lower highs as in a falling wedge or descending channel, shown as (1) on the chart.
After the 25-Dec peak we did in fact had this dynamic until a bounce happened 23-Jan, this produced a lower high yesterday (2) and broke the bullish continuation pattern we are used to see.
👉 If SOLUSD fails to break yesterday's high in the coming days, down we go.
This is not financial advice.
Thank you for reading.
I'll you see on the next chart.
Namaste.
Comment
Perfect Head & Shoulders (top/reversal) pattern on the 4H timeframe.
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