SOLANA → Resistance retest. Will there be a reaction?
2024-10-31

BINANCE:SOLUSDT  , after a strong growth, bumps into the conglomerate of resistances formed on D1-W1. It can be assumed that there is not enough potential to break through this area at the moment.... 

  

There is a clear resistance of the sideways range with gradually narrowing borders on the chart. This is a consolidation, which is most likely not over yet. The market continues to accumulate potential before further strong movement. 
The price reacts very aggressively to the resistance of the figure every time: the retest is followed by a strong decline to the lower boundary. 
The actual retest ends with a false breakout and the formation of a reversal pattern and the trigger of the 173.00 zone. Accordingly, if the SOL continues to decline, which leads to a breakdown of support, the market may enter a sell-off phase. 

 Resistance levels: 183.4, 188.3
Support levels: 173.0, 159.1 

I don't exclude that on the background of bitcoin's active growth SOL may make another attempt of a bull run, for example, to 188.4-188.3. But liquidity formed above this zone will not let the price up the first time. 
At the moment the focus is on 173.0. A breakdown and consolidation below this area will activate a sell-off...

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 BINANCE:SOLUSD  ;) 

Regards R. Linda!