SOL - Struggling against BTC
2025-01-31
Category: None

Sol has showed some relative weakness against BTC. Most charts look the same and BTC has cleared the upper trendlines as new support while SOL has not. 

These two orange trendlines I have drawn for SOL are very important for the mid term. (I have put white circles around the touchpoints of these trendlines).

Right now SOL is respecting its resistance trendline and still selling off. If we are to see a breakout above this trendline, we are likely to see a push to our upper trendline around $270. We should expect for the trendline to act as old support flipped into new resistance (at least for the short term) and will update this prediction as the market develops. 