SOLUSD ! Ascending channel. Resistance retest. What's next?😈

٩ أغسطس ٢٠٢٢

SOLUSDT is testing bearish resistance. The price is in an upward price channel. Also two MA trend lines, which currently play the role of support, confirm the rising trend.

On the chart, I marked the key zone 42.427, which the price is testing for a possible breakout, also ahead is a strong downward resistance line, it is worth paying attention to. Lately, we can see that the price is forming a squeeze to this zone without updating the global lows.

I assume that a pre-break consolidation formation is possible, after which the resistance zone may be broken on the retest. The short-term target on the chart is the nearest resistance and the liquidity zone 48.19, the medium-term target is 54.07

Regards R.Linda!