SOL/USD - After a nice re-test of support, can SOL pump more?

2021年9月18日

SOL corrected to our Fib 38% level as you can see on the chart exactly as predicted in my last SOL idea where I recommended a short for a nice 20% gains (idea linked below).

Now the question is, did you buy support? If you did, you just made another 20% profit! Nice and this volatility from SOL is quite impressive.

We find ourselves at the 23% Fib resistance level which is a bit of a conundrum because if on the higher timeframes the bias is somewhat bearish, I can definitely see SOL moving higher again from this level. We did a great re-test of our Fib 38% level and we could have clearance to go higher.

Therefore, best to wait to see what happens at this current price level, if SOL manages to break-up and make our current resistance support, we're good for some nice gains still and maybe even a new ATH... if we fail to pass this resistance then our support may need to act and hold the downfall again.

If we re-test our support again, it may not hold a second time. But that is speculation, we need to wait for price to make a decision here, then the path will become much clearer.

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