📉 $SOL

SOL

117.33

-5.95%

– Breakdown or Bounce?

Solana is trading inside a well-defined parallel downward channel, respecting both upper and lower bounds since late July.

🟠 Recent Touches:

Price rejected multiple times from the top of the channel.

Recent bounce from support zone near $156 aligns with channel bottom + high volume spike — a sign of possible reaction.

🔍 What to Watch:

Reclaiming the 23.6% Fib level (~$164) could trigger a short-term relief rally toward $168–$172 (50–61.8% levels).

Breakdown below $156 support may open doors to $148.

⚠️ Caution: Trend is still bearish until breakout confirmation above the channel.

📊 Stay sharp. Manage risk.

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