Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Solana witnessed a patterned breakdown while finding solid rebounding grounds over the past day. The altcoin’s funding rate on Binance still stood negative. Cryptos linked to Sam Bankman-Fried and his associated company Alameda Research […]
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.The altcoin’s funding rate on Binance still stood negative.
In the meantime, SOL’s sideways trajectory entailed a Rectangle Top structure on the daily chart. As a result, the alt extended its compression phase before the recent breakout rally. The alt’s sellers could aim to restrict the buying rallies near the trendline resistance in the $23-$24 range. A close above this barrier could hint at a near-term bearish invalidation. An immediate or eventual decline could continue to find testing grounds near the $14.4-zone.
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