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Is SOL/USDT going to $16?

SOL / TetherUS (BINANCE:SOLUSDT)  
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BINANCE:SOLUSDT   SOL / TetherUS
Trend Analysis Chart Patterns
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trendanalysis chartpattern
The horizontal line in red is the SELL resistance.
The horizontal line in green is the BUY resistance.
The price pattern in blue is from August 10th to August 27th, 2023.

According to the chart, if we break the BUY resistance, the price of SOL could drop to 18 and 16 USD.

However, we should keep an eye on the price action and price levels. Better trading ideas could come from them.

Most importantly, the market is always changing, so it is important to trade safely with risk management.
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At the moment SOL is following BTC price.

BTC
snapshot
SOL
snapshot

SOL could continue the price drop if it can break the buy resistance
snapshot

In the meantime, keep monitoring the price of BTC:
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As always, stay safe (by practicing risk management) and stay vigilant (by monitoring the price action/resistance levels).

Happy trading, and may the force be with you.
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