The pattern is clear. There was a deceptive breakout to $295, but it failed to hold support. So the price reached the top of the pattern. It's simple: now we have to wait for the price to reach the support line, which could be $80. Then, Solana will have to break $146. If it does, there might still be a chance for a bullish breakout from the pattern. But if it fails, it could lead to a bearish breakout, meaning a crash to $40-30 support range since there are no other supports if $80 is lost.
So basically, the chart is looking grim. As the last hope for a bullish move, Solana must reclaim and break the $205-210 level.
So basically, the chart is looking grim. As the last hope for a bullish move, Solana must reclaim and break the $205-210 level.
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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.