SOL has taken a brutal hit today: down 4.18% in 24 hours, now at $100.32 and sitting right on its 24-hour low.
At this time yesterday, it was still hovering around $104.66. In a single day, it blew through $104, $103, $102, and $101—on the way down, it barely even slowed.
At noon, $101.82 was still holding as support. Now that floor’s been broken clean through, and the price is standing right on the $100 doorstep.
This doesn’t look like a pullback; it looks like missing one step after another on the way down. The bounce couldn’t even get back to $101.50, and it feels like the bears are holding it down by the shoulders.
I’d say $100 is the last line of dignity here. Hold it, and there’s still room to catch a breath; lose it, and it may have to look for the next step down around $98.
Of course, there’s a condition that would invalidate the bearish view: reclaim and hold above $101.82, and today’s whole story needs rewriting.
Do you think $100 can hold, or is it headed straight for $98?
$SOL
#SOL #Altcoins
At this time yesterday, it was still hovering around $104.66. In a single day, it blew through $104, $103, $102, and $101—on the way down, it barely even slowed.
At noon, $101.82 was still holding as support. Now that floor’s been broken clean through, and the price is standing right on the $100 doorstep.
This doesn’t look like a pullback; it looks like missing one step after another on the way down. The bounce couldn’t even get back to $101.50, and it feels like the bears are holding it down by the shoulders.
I’d say $100 is the last line of dignity here. Hold it, and there’s still room to catch a breath; lose it, and it may have to look for the next step down around $98.
Of course, there’s a condition that would invalidate the bearish view: reclaim and hold above $101.82, and today’s whole story needs rewriting.
Do you think $100 can hold, or is it headed straight for $98?
$SOL
#SOL #Altcoins