SOL – Headed Lower

Unlike ETH and BTC, SOL is unable to rally in early Wednesday trade. The trend is bearish as the correction in Bitcoin increased selling pressure and SOL could not hold the support of $228 at fib 0.32 at EMA 100. SOL currently stands at the key Support level and likely to head to the lower support (dotted line) to fib -0.382 near $208. What’s good is, SOL still seems promising and it could bounce back to the upper resistance level of November 15 near $228 again. However, this movement is conditional on recovery in BTC.