Solusdtshort
SOL, you look hammered, I think you might...PUKE!
Like highlighted on the chart with the red circle, price grinding on a trendline in that manner could have severe consequences, to the downside.
The trend is bearish and the possibility of a break to the downside is high.
CPI data released on the 13th could very well be the trigger of it.
I've also charted this in log scale so it would be easier to see how far Solana has actually risen, and how much lower can it go.
Looking left I see major price action around levels like 15 & 4.
Sharp eye might see another top pattern on the chart, let me know in the comments if you see it!
SOLUSDT ! Broke rising wedge pattern, looking very bearishHello traders 👋
On Aug 18, downtrend line broke rising wedge pattern. Therefore, it is more than likely downtrend line will continue. It confirms my trading analysis that I did on aug 9. After rising wedge pattern tests resistance line, it formed strong downward price movement. The sellers were waiting for the pattern to break the support line and they ordered sell orders which executed once orders had been confirmed. There were a lot of sell orders. As rise of DXY, it might not have a good impact on crypto market. Also to confirm there is a downtrend, 50 and 200 EMA curving downward.