Action Beyond

Solana [SOL] traders can leverage this pattern to their benefit

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Solana’s [SOL] falling wedge breakdown reignited its near-term bearish inclinations. Thus, the alt fell below the 20 EMA (red) and the 50 EMA (cyan) while forming a bearish setup in the 4-hour timeframe.Alongside the 61.8 Fibonacci support, the two-month trendline support (white, dashed) cushioned the recent retracements.Any break below the current pattern can open doorways for a near-term decline before any realistic revival chances.

At press time, SOL was trading at $32.8575.Source: TradingView, SOL/USDSOL’s reversal from the $42-mark has pulled the alt below its near-term EMAs.

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