RLinda ! SOLUSDT-> Formation of a pennant. What's next?
SOLUSDT does not seek to grow, as some large cryptocurrencies do on the background of small economic changes related to the index market. SOL was able to grow to $260 at the end of 2021, but after a trend change we see a 90% drop in price to $26.
On the global chart, we see a strong drop and successive updates of global lows. The price has stopped at the $26 limit zone and the price is not allowed down, but at the same time we build trend lines on the descending highs and see the formation of the pattern "pennant". This pattern is most often a continuation of the trend and we should expect a break of support, rather than growth and a break of resistance.
I assume that the chance is higher that the pattern will work out a break-down of the support and possible decline in the price to the targets of $26 and to the possible level of 21.10. But it is not necessary to deny a bullish scenario with a breakdown of the resistance, in which case we might see an increase to 47.38
Regards to R. Linda!
On the global chart, we see a strong drop and successive updates of global lows. The price has stopped at the $26 limit zone and the price is not allowed down, but at the same time we build trend lines on the descending highs and see the formation of the pattern "pennant". This pattern is most often a continuation of the trend and we should expect a break of support, rather than growth and a break of resistance.
I assume that the chance is higher that the pattern will work out a break-down of the support and possible decline in the price to the targets of $26 and to the possible level of 21.10. But it is not necessary to deny a bullish scenario with a breakdown of the resistance, in which case we might see an increase to 47.38
Regards to R. Linda!
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