SOL Weakness Accelerates

As we predicted in yesterday’s note, SOL extended its decline with more losses to follow. Looking at hourly chart, SOL started dropping on November 06, 2021 from $260. Making lower highs, it again touched the above trend line on November 15, 2021 at $250. There was a strong fib .0236 level at $218 however SOL dropped below it and now the next support level to hold off the price is at -0.236 right above the psychological support of $200 mark. After testing this level, SOL might gain moment to touch again the price level of today to test the above trend line.