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Solana is in a bullish flag formation? or in a descending channel?
My opinion is that there a big chances this pattern formation is descending channel.
1. The volume is descending as the price test the LH that is also the 3rd retest of the resistance line at 234$
2. We see that resent head & shoulders is break at pivot line and the price fall again form this pivot.
3.As a channel need a strong support like older support lines.
Entry 1 at 221$
Entry 2 at 231$
Stop at 238.6$
Target 1 211$ (new high support)
Target 2 195$ (old high support)
Target 3 179$ ( latest pattern support )
Solana is in a bullish flag formation? or in a descending channel?
My opinion is that there a big chances this pattern formation is descending channel.
1. The volume is descending as the price test the LH that is also the 3rd retest of the resistance line at 234$
2. We see that resent head & shoulders is break at pivot line and the price fall again form this pivot.
3.As a channel need a strong support like older support lines.
Entry 1 at 221$
Entry 2 at 231$
Stop at 238.6$
Target 1 211$ (new high support)
Target 2 195$ (old high support)
Target 3 179$ ( latest pattern support )
Trade active
Target 1 complete 211$Trade closed: target reached
Target 2 complete 195$
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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.