Is there hope for SOL?
Although the last article talked about SOL reaching its inverse H&S target, it hasn't smoothly reached the expected price of 27.00 after struggling to break through 25.244.
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In the chart, you can see SOL had a big drop at 25.244 and broke support levels at 22.845~23.460 and 21.979. Keep an eye on 21.979 as a tough price level since SOL continued to drop after testing it multiple times.
SOL has been on a step-by-step descent since its high point at 33.010. Stronger support levels around 15.985~17.763.
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Check out the daily chart here:
SOL still maintains a pattern of higher lows on the daily chart, but breaking through some resistance levels is key for an upward trend.
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Penafian
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