The Solana (SOL) price has finally seen fit to end its parabolic rise of the last couple of weeks. How much more could this crypto gem retrace?
Parabolic move interrupted
It had to end some time. Rising steadily since 12 October, the $SOL price went into more of a parabolic trajectory on 30 October, when three straight days of big green candles ended with a last glorious surge on 1 November, with the price reaching just shy of $47.
The large daily wick left behind on the first day of November told the story of what was then to come. On Thursday the price attempted to rally back, and did manage to claw back to $44.50. Be that as it may, the day closed at around $40, leaving yet another long wick behind.
Source: Trading View
Zooming into the 1-hour time frame one can see a more detailed picture. Wicks aside, the candle bodies for both Wednesday and Thursday both topped at $44.50, thereby drawing an ominous looking M pattern – a measured move for which could take the price back down as fa
We współpracy z: https://cryptodaily.co.uk/2023/11/solana-sol-down-18-so-far-more-to-come
