- Solana violated his similar triangle after the market was broken.
- Sol has increased by 5.3 % over the past 24 hours.
During the past month, Solana [SOL] Struggle to maintain the upward trend. The lack of momentum escalated during the past day after the market collapsed. As the encryption market decreased, Solana was the most difficult blow among the main encryption assets.
During this period, Sol decreased to $ 220, which represents a 12.06 % decrease. However, this decrease stopped temporarily with Sol recovery to a height of $ 243.95.
Solana violated the bottom triangle
These drops left the encryption community on the future path of Solana. Tira, popular encryption analyst Ali Martinez Step 20 % possible, citing a similar triangle.
Source: x
In his analysis, Martinez noted that Solana was trading inside a similar triangle. This pattern is formed when prices move between trend lines, one of which represents its lowest level and the other represents its highest level.
This style usually indicates the market decline, as sellers or buyers do not have total control of the market. With the trading of prices within this style, it gradually converges towards the center point.
Therefore, a break over the triangle can indicate a start or a continuation of the upper direction. On the contrary, a decrease in the bottom of the triangle can lead to a declining result.
According to Martinez, Solana can see the price of the price by 20 %. In order for this to happen, Sol must be closed above 251 to 262 dollars.
Failure to do this means the potential downtown. While the analyst expected the outbreak of the triangle, the collapse of the market witnessed the ALTCOIN breach below, the sign may see more losses.
Can he carry Soul and see the reflection of trend?
According to Ampcrypto analysis, Solana indicated strengthening upward momentum after the market collapsed.
As such, Altcoin can see an interruption to the upward trend.
Source: Coinglass
For beginners, the size of Solana (OV) options and open options (OI) increased on daily plans. Accordingly, OV rose 96.88 % to $ 3.76 million, while OI rose by 12.93 % to $ 15.60 million.
When OV falls, this means increasing trading activity, while OI means creating more contracts, which reflects the increasing interest.
Source: Coinalyze
In addition, most merchants remain optimistic, as evidenced by the long story ratio. As such, Longs has constantly controlled the market by 75.45 % on the daily graphics.
When Longs dominates, it means that traders expect prices to rise.
Source: Santime
The feeling of the total market is still upward, while the likely feelings remain positive during the past six days. When most investors turn positively, it indicates an increase in the preference for Altcoin and is expected to recover prices.
Although Solana violated the similar triangle during the collapse of the market, Altcoin referred to the recovery. He recovered to $ 242, and gained 5.32 % on daily plans.
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If positive feelings persist during the past day, Solana can recover $ 260. If Altcoin reaches this level, we may see an outbreak of Martinez, where Sol reaches $ 314.4.
However, if the trend returns during the past day, the correction may see a decrease to $ 228.
