Is SOL bottoming phase near or not there yet? What it is

1. As we consider the current price action of SOLUSD , there are two key observations worth noting. First, it has been consolidating around the $80 mark since February.
2. Additionally, the downtrend from approximately $250 appears to be part of a significant correction, leading many analysts to anticipate a potential bottoming phase in SOLUSD . It's important to remember that, alongside the horizontal support zones, there exists a dynamic falling channel whose lower boundary aligns closer to $60 rather than $80.
3. This suggests the possibility of a dip to $60, followed by a recovery plan later, which could mark a bottoming phase. Should this occur, we could see a revisit of the $110-$120 zone, which coincides with the 200-day EMA at the time of this writing.
4. Please note this is not financial advice; I encourage you to conduct your own research before making any investment decisions.