SOLUSDT bounces off trend support, forms a reversal pattern, and enters a distribution phase, during which it updates its maximum but encounters strong resistance. What’s next?
Bitcoin breaks through resistance, updating its maximum and opening up a new chance for growth for altcoins. Correction and retesting of support in the market may end with continued growth.
SOL is testing resistance at 231.5. The rally has temporarily stalled, and a correction is forming, during which the market may test the break-even and imbalance zone before returning to growth. It is worth keeping an eye on Bitcoin, as a resumption of growth by the flagship will support the growth of altcoins.
Resistance levels: 231.5, 235, 250
Support levels: 218, 205
A false breakout of 231.5 is provoking a pullback. It is necessary to monitor the further halt in price. I expect a retest of 220-218 before the price returns to growth.
Sincerely, R. Linda!
