Solana has stopped its decline around the 61.8% Fibonacci retracement of the last move higher. Price remains inside a short-term bearish channel. The chances of a reversal are high, but still we have no confirmation.
Black lines- Fibonacci retracements
Solana continues making lower lows and lower highs. Trend remains bearish. However at current levels price justifies a reversal. This reversal will be confirmed once price breaks out of the bearish channel. Channel resistance is found at $105.30. Support is at $97.
