SOL struggled to mantain one of it's main support and brokedown from there. Luckily as a hope for bulls, the price bounced from an horizontal support/neckline at around the 117usd mark and is now back in the trendline looking to be back on trend.Failing to do so could push the price down to retest the horizontal support and probably make the price test lower prices like 108 usd, 100 usd or even 80 usd.
One of the stronger bear indicators is the EMAs crossing, this will create a strong confidence on bears to start shorting.
Let's keep an eye on it.
I WON'T enter a short trade yet. Still waiting the price to break the 117 support to see how we can enter a trade here.
Trade active
SOL trapped bears and is back to the trendline! currently trying to break the main resistance.The short plan could be invalidated
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Disclaimer
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.