SolanaShort
SOL seems weak?
Errata: I had previously remarked that SOL's price is following a Parallel channel in log scale, it seems that t's price movement is described better as a rising wedge.
After it's stupendous rise this year, SOL is now finding itself victim to the overall downturn in the crypto market. Like most other cryptos, it means without lack of any major price action in coming days, SOL is expected to go sideways this December(if it breaks the rising wedge) we can expect a retest of the price levels of 120. Right now the only other major support is the bull market support band which is currently being retested at weekly level.
News of a DDOS attack also isn't helping the situation. Although the network was functional throughout, it's experiencing major growing pains in terms of security.
After it's stupendous rise this year, SOL is now finding itself victim to the overall downturn in the crypto market. Like most other cryptos, it means without lack of any major price action in coming days, SOL is expected to go sideways this December(if it breaks the rising wedge) we can expect a retest of the price levels of 120. Right now the only other major support is the bull market support band which is currently being retested at weekly level.
News of a DDOS attack also isn't helping the situation. Although the network was functional throughout, it's experiencing major growing pains in terms of security.
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