Solana: New Lower High Being Established 
2024-10-15

Solana is in the process of establishing a local lower high, which would indicate the end of the current price bounce.

Good Monday my fellow Cryptocurrency trader, I hope you are having a wonderful day.

A lower high at this point would signal the resumption of the bearish move; a bearish continuation. This continuation would be the continuation of the drop that started 18-March and was later continued late July. The next down-move would be the final drop of this correction and would likely establish the bottom and thus bullish dynamics.

How far down it goes it is still speculation because it depends on how ready buyers are to enter the market and how strong the bears are. With that said, the main three support range are mapped on the chart.

It will be very interesting to see how it all develop. Will it be a flash crash or a long drawn out drop?

Leave a comment with your thoughts.

Thank you for reading.

Namaste.