Solana (SOL) Reclaims Previous All-Time High Resistance - Aliens: AI Crypto News & Markets Updates

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Solana (SOL) Reclaims Previous All-Time High Resistance

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BeInCrypto

Thu, Nov 25, 2021

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Aliens TLDR

If it manages to hold on above the current support level, Solana ( SOL ) could initiate a significant upward movement that takes it to a new all-time high and beyond.

On Nov 18, SOL reached a low of $186.50 (red circle).

On Nov 24, the token created a higher low (green icon), bouncing at the confluence of the $210 area and the ascending support line.

The shorter-term six-hour chart shows that SOL has been decreasing alongside a descending resistance line since Nov 5.

This is the : 0.618 Fib retracement resistance level Horizontal resistance area Descending resistance line A breakout above this level would confirm that the correction is over.

Due to the overlap between the Nov 10 low and Nov 21 high (red icons), it seems that the decrease was corrective.

Therefore, it means that the trend is bullish and the downward movement was part of a correction.

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