#SOL Market Analysis
SOL is at 89.81 on the daily, back on the lower trendline of the rising channel from the June lows. The first bounce off this line reached 97 before sellers rejected it hard, so the channel support is now facing its second test in under a week.
Bull case: hold the channel near 88 and reclaim 93, opening a path back toward 97 and the 102 zone.
Bear case: lose 87 and break the channel, exposing 85 and the 81 area below.
Channel support holds on the retest, or does the second hit finally crack it?
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Bitcoin Bullets® Trading
SOL is at 89.81 on the daily, back on the lower trendline of the rising channel from the June lows. The first bounce off this line reached 97 before sellers rejected it hard, so the channel support is now facing its second test in under a week.
Bull case: hold the channel near 88 and reclaim 93, opening a path back toward 97 and the 102 zone.
Bear case: lose 87 and break the channel, exposing 85 and the 81 area below.
Channel support holds on the retest, or does the second hit finally crack it?
➖➖➖➖➖➖➖
Bitcoin Bullets® Trading