Technical analysis by xaheer about Symbol SOL: Sell recommendation (7/8/2023)

SOL seems to be overbought on the daily tf, a head and shoulder pattern has also formed on the 1hr tf to serve as a confluence. If you use the parallel channel tool, sol has reached its peak on the channel. Chances are high that we might see a drop down to $19-$16, as the daily candle seems to be closing with a reversal candle, close the opening which will cause a liquidity sweep of the previous day low. Short positions from $21.82 - $20.77 Take profit: $20.360-$16. #NFA #DYOR