SOL – Descending Triangle

There is a descending triangle pattern in SOL on the 4 hour and daily charts .

Solana tried to make the new local high by breaking the previous level of November 25 of $216 and reversed from $216 yesterday. The high price touched the upper trend line of lower lows. Solana is holding the price above very strong support since October 22, 2021. The first resistance here is the previous high of $216 and then at fib 0.5 near $222, the price level where Solana was a week ago.