On the 4HR SOL is reaching the pointy end of the pennant today. :) The market has respected the trend line down (white) from the high created by the recent trump meme debacle. But it also has a rock-solid floor at $246.4 (purple) that has held three or four times in the past week. Volume has declined but not in a meme-like fashion. And on the 4hr chart this is playing out as what 'should' be a bullish pennant.
Throw in the imminent 'ETF' noise, whale sightings, and accompanying 'strategic reserve' noise means my technical analysis is that it is all very noisy.
Three options: BEAR: For some unknown reason ['whales'] the market plunges through it's lower trend-line (pink) and the $240-250 resistance to around $200. BULL: Any hot-news moment provides impetus for a parabolic up move sending SOL to $280 (where the short trend upper meets a WK-chart median). NORMY: SOL ignores all the pretty lines and wiggles along in entropic heat death until actual news which you will hear about when the market ['whales'] spikes/crashes and we have another a collective "WTF?" moment.
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