Everyone is cheering the green day but $SOL on the daily still looks heavy to me.
Wicked down to 89.86 overnight, the bounce ran it to 98 and it already gave back a couple bucks. Good candle today, sure. But price is still under the daily EMA20 sitting near 100, and that line has been pushing it lower since early October.
So for me 100 is the whole story. A daily close back above it and I stop calling this a downtrend, 103 to 104 would be next.
If it gets rejected there again, 90 is the floor that matters and under that there's a lot of air down toward 84.
Wicked down to 89.86 overnight, the bounce ran it to 98 and it already gave back a couple bucks. Good candle today, sure. But price is still under the daily EMA20 sitting near 100, and that line has been pushing it lower since early October.
So for me 100 is the whole story. A daily close back above it and I stop calling this a downtrend, 103 to 104 would be next.
If it gets rejected there again, 90 is the floor that matters and under that there's a lot of air down toward 84.
