cryptofamily

SOL
The sharp drop on December 9th caused market panic, but a closer look shows that the decline halted right at the upper edges of two channels (purple and green on the chart) plus a support zone ahead. When viewed over a longer period, this dip appears as a normal pullback on the three-day chart, roughly between the Fibonacci levels of 0.5-0.618. This downturn also formed a potential descending wedge (yellow wedge on the chart), a typical reversal pattern. After a successful breakout, the target price would be approximately equal to the height of the wedge (pink line on the chart). Further analysis indicates that the breakout target from the large channel aligns with the Fibonacci level of 1.414, which also matches the pullback target from 0.5. Given these observations, SOL has significant upward potential in the near term. Here are some reference points:

Entry: 210
Take Profit: 310-325
Stop Loss: 199.9
Risk/Reward Ratio: 9.9

thanks for the detailed analysis 197 $DEGEN