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FX.co ★ Short-term technical analysis on Solana.

Short-term technical analysis on Solana.

Solana has stopped its decline around the 61.8% Fibonacci retracement of the last move higher. Price remains inside a short-term bearish channel. The chances of a reversal are high, but still we have no confirmation.

Short-term technical analysis on Solana.

Blue lines- bearish channel

Black lines- Fibonacci retracements

Solana continues making lower lows and lower highs. Trend remains bearish. However at current levels price justifies a reversal. This reversal will be confirmed once price breaks out of the bearish channel. Channel resistance is found at $105.30. Support is at $97.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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