SOL/USDT on 4-hour chart - 3 jan 22
SOL/USDT 4-hour chart:
Solana price would face resistance at the 61.8% Fibonacci retracement level at nearly $175 and the 78.6% Fibonacci retracement level at $220 before the bulls attempt to reach the bullish target.
but, if a spike in sell orders occurs, Solana price will discover immediate support at the lower boundary of the governing technical pattern at $170. Breaking below the aforementioned line of defense will invalidate the bullish thesis, and SOL could continue to slide further toward the January 1 low at $167, then toward the October 6 high at $161.
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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.