Solana May Rise Again After This Profit-Taking Moment
Solana May Rise Again After This Profit-Taking Moment
After breaking out of the pattern on November 6, 2024, Solana surged by nearly 46% from the breakout zone. The top was reached at 264.50 on November 22, 2024, followed by a slow correction.
It appears that the entire crypto market experienced a profit-taking moment, anticipating Trump's inauguration as President on January 20, 2024.
The chances are that we may see another bullish wave after the price tests a strong support zone between 176.50 and 182.50.
We may see Solana rising again in the coming weeks, with targets at 210, 230, and 253-254.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
After breaking out of the pattern on November 6, 2024, Solana surged by nearly 46% from the breakout zone. The top was reached at 264.50 on November 22, 2024, followed by a slow correction.
It appears that the entire crypto market experienced a profit-taking moment, anticipating Trump's inauguration as President on January 20, 2024.
The chances are that we may see another bullish wave after the price tests a strong support zone between 176.50 and 182.50.
We may see Solana rising again in the coming weeks, with targets at 210, 230, and 253-254.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Note
Target 1 reached and it should rise further
Trade active
📣SOL: If SOL stays above 200, the chances of it rising further are high
I posted this analysis on Thursday and as we can see the price already reached the first targe.
176.50 - 182.50 price zone proved to be a very strong support zone by pushing the price up to 210.50
The daily candle looks strong and bullish so far and if SOL holds above 200 in the current zone the chances to rise further are high.
Trade closed: target reached
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
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.