15.04.202222:05 Forex Analysis & Reviews: Solana vulnerable to a move towards $93.

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Solana continues to trade inside a downward sloping bearish channel. Price is now challenging short-term support at $97.75. Failure to hold above this level could lead Solana price towards $91-$93.The RSI has reached oversold levels but has still not provided a clear bullish divergence.

Blue lines- bearish channel

Black lines- Fibonacci retracements

Red rectangle- support

If support at the red rectangle is broken then Solana continues lower towards $91-93. Price is now around the 61.8% Fibonacci retracement and the chances of a reversal to the upside are high. Resistance is at $103 and a daily close above this level would be a first step for bulls.

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