Solana Bounce Incoming? Chart Points to $205 and Beyond

Solana Bounce Incoming? Chart Points to $205 and Beyond

Table of Contents

TL; Dr

  • Solana is re -testing the composition of the triangle, where traders watch $ 180 to confirm.
  • The data on the 8m Sol series is purchased at $ 190, which alludes to strong support above the resistance.
  • The Solana mass capacity promotes 66 %, with the addition of Metamask original support.

Sol returns to the main penetration level

Solana (SOL) is trading about $ 181 after a brief decrease of more than 2 % a day. Last week, the price was still a little rising. On the daily chart, the distinctive symbol was broken over the upper part of the Istamad Triangle, a structure that has been formed since March, and it is now re -testing the penetration area.

Analyst Jonathan Carter referred to this field as a possible support level.

He said: “A successful bounce may lead to the confirmation of the bullish penetration and the payment of the price towards the goals at $ 205, 225 dollars and 268 dollars.”

The triangle shows a clear rising trend at its lowest level while the price was pressing against resistance near $ 180.

Harves ’goals: $ 205, $ 225, $ 268

If the test continues, traders are monitoring price movements towards the first level $ 205, as the original was reflected in April. The next region is $ 225, as Sol stopped during the time earlier this year. The collapse that goes beyond this would put $ 268 in play, which matches the triangle’s scaling height from the penetration area.

Meanwhile, there is a wider resistance area of about $ 295, but this will only be relevant after a clean step above 268 dollars. The size was moderate during the last batch, and the current decline gives the market an opportunity to test whether buyers will defend the penetration.

Supports data on the range

like Cryptopotato I mentionedThe data indicates that more than 8 million Sol has been purchased in advance of $ 190. This can be a major level if the price is higher. Moreover, fewer traders are placed for sale, which may reduce sale pressure and make it easier for the price to move.

The relative power index is approaching 70 years. While this indicates some excessive limits, it does not yet indicate a sharp reflection. It will be a standard short standard in this type of setting.

Network growth and market signals

Ali, another market analyst, He said The TD serial Tool Sport Sign is filled with Sol. This comes like Solana Blockchain Prepare To increase 66 % in the mass capacity from 60 million to 100 million calculation units under the upgrade of the network.

Separately, Metamask and Transk certain A partnership brings the original support to Solana to Metamask. This represents the first main step of the wallet beyond Ethereum and will allow users to buy Sol with FIAT directly through Transak.

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