$SOLV 30 hit a new daily high, with the current price at 0.00522 and the previous high at 0.005107.
After making a new high, there are generally three possible moves:
① Pull back to the previous high without breaking below it, then make a new high: the healthiest scenario
② Chop around the previous high: consolidation while the market decides on a direction
③ Drop straight below the previous high and fail to reclaim it: a bull trap
It’s still above the previous high for now. Watch to see whether it follows ① or ②.
After making a new high, there are generally three possible moves:
① Pull back to the previous high without breaking below it, then make a new high: the healthiest scenario
② Chop around the previous high: consolidation while the market decides on a direction
③ Drop straight below the previous high and fail to reclaim it: a bull trap
It’s still above the previous high for now. Watch to see whether it follows ① or ②.
