Solana could drop further

Solana broke through a very small level of support at around $90. However, the next big support zone is around $70.

Ideally we want to start seeing higher lows and higher highs being formed, in which case we might consider this a fakeout from the channel it was in. As that is a descending channel, the HL's and HH's need to continue breaking the general trend.

I believe the blue case to be far more likely at this point.

What are your thoughts?