SOL – Dead Cat Bounce?

Solana is bleeding after dropping more than 35% in just the last 11 days. The actual concern is that the downtrend isn’t over.  Yesterday Solana broke the fib 0.786, a support level we noted. The next support level for Solana is at 140. However, if Bitcoin takes a reversal from the current decline, Solana might recover towards the local resistance level at 163, of 0.786. After ranging for some time in this area it might rise again to the upper trend line.