SOLUSDT Double Bottom & Bullish Divergence Sparks Optimism

2 thg 8, 2023

💎On the #SOLUSDT chart, Paradisers, an intriguing development is underway—a potential double bottom formation at $22.70. As keen observers, we note the formation of a bullish divergence on the MACD, which preceded the price surge and the subsequent breakout above the descending channel—both promising bullish signs.

💎 Now, we eagerly await the 3rd bullish confirmation as #SOL bounces off the previous support level at $23.41. A decisive 1-hour and 4-hour close above this support would confirm the bounce and pave the way for a potential 10% jump. The nearest resistance lies at the 88.6% Fibonacci retracement level, aligning with the previously formed supply zone.

💎 As the MCP team remains on the hunt for favorable opportunities, we adhere to a safety-first approach. We closely monitor the $22.70 level for any potential breakout. Should such a breakout occur, we will swiftly transition to seek short-term selling opportunities. Until then, we exercise patience and await the crucial 4-hour close before taking any action.