Is SOL dropping lower? A breakdown in a bear pennant is not a positive development.
SOL price fell by over 13% to around $41.60, its lowest level in almost two weeks. Notably, the SOL/USD pair also broke out of what appears to be like a"whose occurrences typically precede additional downside moves in a market.
Moreover, a successful retaking of the trendline as support risks invalidating the bear pennant setup while bringing the 20-day exponential moving average near $57.59 in proximity as the next upside target.
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