SOL will go up?

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Let’s start by looking at the 1D chart:

SOL experienced a significant decline from its high point of 38.75 to 7.535, followed by a price rebound to 26.826. Currently, SOL is consolidating between 26.826 and 19.459, and there is a chance of a bottom formation near the support level of 19.459.
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On the 4hr chart, SOL has broken through the downtrend line and found strong support at 20.351. The following targets can be monitored:
22.132
22.503
22.836
23.169

٦ يونيو ٢٠٢٣

ملاحظة

After reaching the target of 22.132, SOL experienced a significant decline and fell below the support level of 20.351. This price drop could be due to Binance being sued by the SEC.
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Currently, the price is near the support level of 15.49, showing a consolidation pattern as shown in the chart below:

It is advisable to wait for a clear direction.

٦ يونيو ٢٠٢٣

ملاحظة

19.459

١٥ يونيو ٢٠٢٣

ملاحظة

After finding significant support near 19.459, SOL broke above the resistance trendline and formed an inverse H&S. However, it didn't experience a successful rally and instead declined after reaching a high of 22.284, breaking below the low point of the right shoulder, rendering the inverse H&S invalid.
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SOL dropped below the low point of 15.339 (breaking the box) and eventually rebounded at 13.160. Currently, it is worth monitoring the support range between 13.160 and 15.339.