SOL finally in a perfect spot for a POTENTIAL REVERSAL to the upside.First of all, still a downtrending asset, but it's declined enough to start watching it closely, it just had two BULLISH retests of a nicely confluenced support level of 200 MA + an ASCENDING TRENDLINE. Also near the typical 0.786 fib retracement level ($178).
This last bounce could become a HIGHER LOW, so I'm watching the volumes for a confirmation, nothing bullish yet, but at least the selling has been easing off.
#solana will become BULLISH again above $206 and above $218, I will personally wait for a true market verification during the weekdays, apparently the #ETFs have been approved. This could be a bit of a 'sell-the-news-event'.
Break below that stacked support area with volume would suggest a BEAR MARKET for SOLANA. Just my 2 cents.
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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.