SOLUSDT makes a false breakdown of resistance 47.5925 and breaks the global ascending price channel. Since the key points (local lows 34.65, 31.8) have not yet been broken through, there is a chance that this could be a deep false breakout.
The price may form a pullback to the resistance zone and here it will be necessary to follow the price behavior.
After the distribution a strong pullback, return of the price to the price channel and growth is possible. I stick to the short scenario: the price will roll back to the resistance area, consolidate under it and continue its fall in the global trend. The target is the support of 31.11.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.