SOL is at key support:
1. bull channel trendline (logarithmic)
2. 3x shorts down, 3x longs up
3. 3+ months supp/res
obviously the market is in a downtrend, so there's more than a reasonable chance that this mega bull trendline is broken, but to me this looks like a low-risk buying opportunity if you keep a tight stop-loss under the trendline (or better yet, <$160 to keep it protected by the .382 fib and 3x margin pressure levels).
with the possibility of alt season around the corner, this one could look like a no-brainer in hindsight.
1. bull channel trendline (logarithmic)
2. 3x shorts down, 3x longs up
3. 3+ months supp/res
obviously the market is in a downtrend, so there's more than a reasonable chance that this mega bull trendline is broken, but to me this looks like a low-risk buying opportunity if you keep a tight stop-loss under the trendline (or better yet, <$160 to keep it protected by the .382 fib and 3x margin pressure levels).
with the possibility of alt season around the corner, this one could look like a no-brainer in hindsight.
Commento:
low TF action looks bearish. if this support breaks, next place i'd look for a bounce is around $120-$130. should be very strong support at the 2x short level and .5 fib retracement lvl
