SOL/USD Downside? 9 Nov 2021

Solana against the USD has enjoyed a great bull rally, however technical analysis now points to downside.

Price has rebounded out of the 61.8% fibonacci extension level, and we anticipate a retracement into the previous highs. The 4H RSI is also indicating bearish divergence, and we are looking for a move to the 220 level.

Downside target: 220

Violated Above: 270

SOL/USD 4H Chart, 9 Nov 2021

Published by Tom Stewart

Head of data analytics at TradeProofer. Analyst at Opes Trading Group. FX enthusiast.

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