SOL 0.786 FIB level

Charting SOL's recent price actions, we observe a December 2022 nadir of $8, followed by an ascent to $27. Subsequently, a retracement brought SOL's value down to $12.6, closely aligned with the 0.786 Fibonacci retracement level. This dip was followed by a renewed upward impulsive movement propelling SOL to its zenith at $33.4, which has once again been succeeded by a retracement phase.

A scrutiny of the Fibonacci retracement levels within this price oscillation reveals a notable 0.786 retracement level situated at $17. This particular level not only represents a robust support for SOL but also coincides with the lower trendline of the parallel structural movement observed in SOL's price action.