Solana is making lower highs on steady support of $130. This bearish movement has turned the hourly chart of Solana into descending triangle pattern. Solana briefly broke above EMA 100 however could not break the previous high of $145 of January 9. EMA 100 has now turned again into local resistance. The descending triangle pattern breaks on either side however the chances to break downwards are higher as we have an additional indication of hidden bearish divergence. RSI is rising while the price is dropping – this can trigger a bearish trend and make Solana dive below the support zone of $130. The considerable resistances to breaking positive from this pattern are at $142, fib 0.786, and $147 near EMA 200.
