🔷️ #solana continues to move within a parallel channel on the daily timeframe. Due to the recent $BTC pullback, $SOL is approaching the lower boundary of the channel.
If it manages to hold at this level, potential resistance zones based on Fibonacci retracements are marked with yellow lines. However, if the channel support breaks, it may retest the green line, which represents a strong support level according to Fibonacci.
📊 Technical Indicators:
✅ RSI (~47): In the neutral zone; not in oversold territory, but not showing strong buy signals either.
⚠️ MACD (~-0.23): In the negative zone, but the histogram is narrowing possible sign of a recovery attempt.
⚠️ ADX (~19): Below 20, indicating a weak trend; further confirmation needed.
⚠️ Volume: Currently low; a breakout would require increasing volume.
🔍 The technical structure should be monitored closely. While support holds potential, indicators are not yet showing a strong reversal.
⚠️ This content is not investment advice.
Crypto assets carry high risk. Please do your own research before making any decisions.
