Solana is trading above 90.30. Short-term trend remains bearish as price continues making lower lows and lower highs. Price made a low at 80.27 just above the previous low of 79.97. Solana has formed a possible double bottom. Will we see a W shaped reversal?
Blue line - resistance trend line
Solana is now testing the blue downward sloping trend line resistance. So far price whenever it touched the blue trend line resistance it got rejected. So far price has confirmed the importance of the resistance trend line. Breaking above it will provide us with a bullish signal that could bring price towards $122 at least where we find the 23.6% Fibonacci retracement of the entire decline.
