$SOL The daily level has just fallen from the high point to the Fibonacci 0.382 position. In the short term, this price level still has relatively strong support.
However, if Solana continues to fall according to the parallel channel, there may be a deeper correction, dropping to the 0.618 position. Once it reaches this position, it actually gives us an opportunity to enter the market.
At the same time, we look at the MACD, where the yellow line crosses below the blue line forming a death cross, and the red bear momentum bars are strengthening, indicating that the bearish trend will continue.
We look at the recent transaction volume distribution chart, and the current price has fallen below the position with the highest trading volume. If it cannot break through this time, there may be a deeper correction! The bears have their opportunity.
And the bulls.
You can gradually build a position between 220-200, and take profit in batches at 240 and 260. Of course, you can also hold it long-term.