Subscribe to our Telegram channel

Solana forecasts 25% growth in the near future

2:19 pm, August 15, 2024

As the Solana (SOL) cryptocurrency continues to show the potential for sustained bullish momentum in its quest to regain the $ 200 resistance level, analysts predict that the token is poised for a potential breakout. This was stated by cryptocurrency expert RLinda.

In its technical analysis, RLinda outlined a clear roadmap for Solana, predicting the token’s path from current levels of around $ 147 to the target of $ 205. Analyzing the SOL chart provides important information about the current price dynamics and potential future movements.

The daily chart shows that Solana is in a consolidation phase within a well-defined triangular pattern, which usually indicates a continuation of the existing trend, which in this case is bullish. The price is fluctuating within this triangle, the upper limit of which at the resistance level of $ 162.45 is a significant obstacle to further upward movement. A breakout above this resistance could signal the continuation of a strong bullish movement.

The support levels at $ 141.20, $ 136.70, and $ 126.40 are also crucial to understanding the strength of any potential pullback or correction. The 0.5 Fibonacci retracement level at $ 137 indicates that a correction may occur before an upward breakout. According to analysts, this opens up a potential buying opportunity within this correction zone.

Subscribe to our Telegram channel

BTC

$76,602.70

2.04%

ETH

$2,868.10

7.27%

BNB

$599.42

2.31%

XRP

$0.55

3.46%

SOL

$196.66

5.37%

All courses
Subscribe to our
Telegram channel!
The latest news and reviews of the cryptocurrency markets of the last
day right in your messenger. We are waiting for you!
GO TO
Show more