Solana could drop further
Solana broke through a very small level of support at around $90. However, the next big support zone is around $70.
Ideally we want to start seeing higher lows and higher highs being formed, in which case we might consider this a fakeout from the channel it was in. As that is a descending channel, the HL's and HH's need to continue breaking the general trend.
I believe the blue case to be far more likely at this point.
What are your thoughts?
Ideally we want to start seeing higher lows and higher highs being formed, in which case we might consider this a fakeout from the channel it was in. As that is a descending channel, the HL's and HH's need to continue breaking the general trend.
I believe the blue case to be far more likely at this point.
What are your thoughts?
Related publications
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.