$SOL If It Corrects Further, I'm Going All In
Even after a fabulous run for the past six months there are these bizarre talks of this giant doing a Luna. 🤦🏼♂️
Crazy!!
Moving ahead anything below $150 is like silver at this moment and anything below $140 is just pure gold 🪙 .
📊 Now, let's analyse some points.
🔸On the weekly chart after a continued uptrend, the price is respecting the ascending channel and currently moving within after a rejection at $180 which is a key resistance zone. Though I've marked $175 on the chart which is a sweet spot right now. The resistance is strong in this zone which we saw in the last couple of weeks.
🔸But the formation of a certain bearish candle raised a few eyebrows which seems ridiculous. The marked red candle is a "Shooting Star" also known as Inverted Hammer (when formed during a downtrend). Formation of this candle after an uptrend are signs of bumpy roads ahead and indicate weakness.
🔸But this won't prevail for much time as we witness that this candle formed after a reversal not at the exact top. Formation at the exact top is perfect time for bears and the fall is steep from that point. Solana already went through that rough phase with $120 getting tested twice after hitting a high of $210.
Going with the daily chart, this week kicks off on a positive note with Sol rising almost 1.75% today currently trading above $165. A fall from here will test $160 first, then $150 followed by $140 and to strengthen the support even further it'll test $130.
If this happens, I'm seeing a reversal from $150 or if it goes deeper then a reversal from the lower trendline as support which will be between $140-130.
That's It!!
We all know what happened with Luna and comparing that to get repeated with Sol is utter foolishness.
#SolanaStrong #altcoins #FIT21 #Megadrop #StartInvestingInCrypto
