Solana has been very weak this month! I have expectations that it will improve due to the ETF, but not until the second half of next year.

$SOL / USDT - price analysis:

The main trend remain bullish on the weekly, but the weekly support at 198 - 200$ isn't a strong one! ⚠️

Zooming on the current price it's pretty neutral and bulls must break above the 226 - 243 and 257$ resistances level. [H4]⏳

H4 view turned bearish! 📉

We may see a sideway phase between 225 - 210$ for some days before to see another breakout, up or down! ⚠️

Zooming on the HTF charts, a retest of the 190 - 188$ support zone or (weekly triangle) is not impossible to be see⚠️!

💡To Resume:
Very unstable zone at the moment and we can expect a lot of pump and dump!
I'm not confident to open a long position yet on #SOL for the long term! A weekly close above 250$ is required for the bulls for a safer entry on breakout!

A retest of the 180 - 190$ zone could happen, wich could be a final retest before to see another run upward! 📈 This scenario is possible if #bitcoin price continue to correct downard toward 84,000 or 80,000$!

Find a possible scenario (H4 view). (important levels are in my charts).

#sol #solanAnalysis #SolanaUSTD