Solana is coming into a major resistance level that has been on many of out radars for a while. I have in shown in my chart above, but also is showcased nicely in TheProf’s post here as an EQ zone.
My point isn’t to reiterate that, but instead to show another bearish viewpoint from the SOL-BTC chart shown below. The chart below shows three major ideas of confluence with the traditional SOL-USDT chart:
A zone of open liquidity has officially been cleared with this recent price action.
There is a well-respected, major overhead resistance that has not been broken in a long time.
The uptrend market structure that has been printing the lows is consistent between both charts, leading to confluence with expectations on where a pullback may direct us to.
Solana is coming into a major resistance level that has been on many of out radars for a while. I have in shown in my chart above, but also is showcased nicely in TheProf’s post here as an EQ zone.
My point isn’t to reiterate that, but instead to show another bearish viewpoint from the SOL-BTC chart shown below. The chart below shows three major ideas of confluence with the traditional SOL-USDT chart: