Solana / TetherLong
SOLUSDT Rectangle Pattern Formation
SOLUSDT Technical analysis update
SOL has been forming a rectangle pattern for the last 170 days. The price is now approaching the rectangle's resistance, indicating a potential breakout. If the breakout occurs, we can expect a strong bullish move in SOL, with the price possibly reaching $500 in this bull run.
In day chart 200 EMA act as a good support for SOL
A similar pattern formed at the bottom, where the price stayed within a rectangle for 280 days before breaking the resistance and surging 600%. We could see a similar move once the current rectangle is broken.
Regards
Hexa
SOL has been forming a rectangle pattern for the last 170 days. The price is now approaching the rectangle's resistance, indicating a potential breakout. If the breakout occurs, we can expect a strong bullish move in SOL, with the price possibly reaching $500 in this bull run.
In day chart 200 EMA act as a good support for SOL
A similar pattern formed at the bottom, where the price stayed within a rectangle for 280 days before breaking the resistance and surging 600%. We could see a similar move once the current rectangle is broken.
Regards
Hexa
Note
SOLUSDT price moving toward the rectangle pattern resistance for the breakout.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🚀Telegram : t.me/hexatrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.