SOL Drifting Towards Sept Low

Solana is slowly drifting towarsd $117, the September 21 low where it has significant support.

SOL is currently resting above the EMA 200 support. Like Ethereum, Solana is moving downwards inside a parallel bearish channel. However Solana also appears to be forming an inverted head and shoulder pattern inside the parallel channel. Solana has resistance at $190, fib 0.618, and local support at $138. In the case of a major plunge, Solana has support at $78, fib 1.618.