Precise retest, bulls fiercely defend the 100 floor
This move can be described as a textbook support test. Last night, the bears tried to break below 100, but encountered strong resistance from the bulls at 99.11. Today’s intraday session produced a small bullish candle, reclaiming the psychologically important 100 level, which shows that this psychological support is still holding. However, pay attention to the volume: it is severely lacking, which probably means there’s still more downside ahead. Personally, I’m leaning short. $SOL
This move can be described as a textbook support test. Last night, the bears tried to break below 100, but encountered strong resistance from the bulls at 99.11. Today’s intraday session produced a small bullish candle, reclaiming the psychologically important 100 level, which shows that this psychological support is still holding. However, pay attention to the volume: it is severely lacking, which probably means there’s still more downside ahead. Personally, I’m leaning short. $SOL
