- June 13, 2022
- Posted by: Tradingshot Articles
- Category: Cryptocurrency
Solana (SOLUSD) hit today the Lower Lows trend-line (bottom) of the Bearish Megaphone pattern that started after the November 08 2021 High (and All Time High). It is now closer to the 2.0 Fibonacci extension, which as shown on the chart play a major role in determining Lower Lows (rebounds) and Lower Highs (rejections).
With the 1D RSI on Lower Highs, traders can either look to buy near the 2.0 Fib or upon confirmation, when the RSI Lower Highs trend-line breaks. Medium-term target, the 1.5 Fib (44.40).