SOLANA 2H Bearish UPDATE - 121 mark is already Breached

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SOLANA is still under big selling pressure.

We have 4 ascending channels making up the steady yet obvious descent of the chart to lower & lower levels.

On the other hand, we have also a descending channel well respected on its outer boundaries.

The chart experienced upper deep pull backs but they remained "pull backs" and did not convert into any clear upward trend.

Blue channel 1 broken and retested twice.

Purple channel 2 broken.

Green channel 3 broken and retested once & final time.

Orange channel 4 broken today @ 2 am.

The upper Red resistance line of the downward channel has proven to be unbreachable, with 2nd & 3rd rejections as Fake Breakouts.

In simple terms: The chart has already breached the lowest bottom of 121 of NOV 21.

We have 3 potential scenarios as seen on the chart, yet one clear outcome.

Of course, we expect possible "strong fake" upward moves within the final descent.

Safe Trade.

[Nahid Hossen]

121 break was the key—momentum clearly shifting to sellers.

[Rimon Khan]

If 121 can’t reclaim fast, lower support zones will get tested.

[Abdul Khan]

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