#SIL Analysis

SOL has been lying for several days (we return memes about 5:2 and the rest) and transactions in the blockchain are not executed, which also negatively affects the rate of the asset.

There are rumors of a spot SOL ETF, which I don't really believe in yet. But some expectations for the spot SOL ETF are starting to build now. The asset has many growth triggers - meme, tokens on the SOL blockchain, technical development of the network, bullish technical analysis in global terms. The project is extremely strong and tokens on its blockchain show the best dynamics at the moment.

Now we are in a descending triangle formation, which often breaks into a long.

We formed a double bottom + received a reaction from support.

The RSI indicator is at values just above 50, which maintains a bullish upper hand in the network. Most of the addresses are in the black and are in no hurry to fix positions. The maps of predictive liquidations have changed their location and are located on top. According to CVD, a pattern of absorption of sales in the balance sheet has been formed, which creates greenhouse conditions for the growth of the asset.

The lack of liquidity inflow at the moment is a little confusing, but given the general market correction, this is normal. We are in the fourth corrective Elliott wave, and logically it should have ended. To confirm the growth in the fifth wave, we need to go above $180.82. According to the Agoop indicator, we see a red line (Aroon Up) and a blue line (Aroon Down) on the lower half. In the first section, you can see that the Aroon Down is on top most of the time - this means that the market is trending upwards

Summing up, I would say that if the seller fails to neutralize the double bottom pattern and take the asset below $169.73, we will continue to grow. A very negative factor is an overloaded network, which affects the digital values of the chart.