solano broke its intermediate trendline,
if we draw fib retracement from recent high and low we can see it retraced from 0.5 levels two times it was like a double top formation as well
currently it is consolidating in a short channel, it can be the inverted pole and flag pattern
the prices seems to be mean reverting towards the 50ma on daily chart it is also a...
this pattern might turn bearish if it breaks the green arrow neckline 1st support 175 and next s2 > 168
though the trade activates only neck line could not sustain
on daily time frame it looks like forming evening star (bearish) it can come down to 161-160 as a mean reversion of 9 ema.
4h time frame it indicates higher high, higher lows
pitchfork and fib speed resistance fan shows confluence levels at 172-160
140 could be the last major support after this level it can go sideways or bearish
240 might be possible based on...
price seems to be making wicks on lower time frame on 0.5 fib levels
150 and 130 roundoff support areas if it breaks down
will update after other structure formation
do let me know if you need any other coins update and analysis
happy trading.......
