Solana (SOL) - Bullish Breakout!!!Solana has created a bullish flag pattern on the chart. This bullish flag pattern indicates that a breakout is imminent. My analysis identifies a key price target of the first at $308.
The chart shown indicates a bullish flag pattern, which is a technical signal suggesting that an uptrend will continue after a period of consolidation. The flagpole represents a prior rapid price increase, while in the meantime a slight pullback is expected leading us in the horizontal consolidation phase.
During this phase a brief pause with multiple attempts to break the ATH major resistance before the next upward movement creating a new All-Time High.
🟢Support= $174
🔴Major Key Resistance= $259
🌟Target= $308🎯
‼️DISCLAIMER PLEASE READ CAREFULLY‼️
*(THIS NOT FINANCIAL ADVICE, ALWAYS DO YOUR OWN RESEARCH! I AM NOT RESPONSIBLE FOR ANY LOSS OF EARNINGS FROM ANY INVESTMENTS THAT YOU MAY MAKE BASED OFF ANY OF MY IDEAS. ONLY INVEST WHAT YOU CAN RISK TO AFFORD TO LOSE IF YOU MAKE THE DECISION TO DO SO. DO NOT INVEST, UNLESS YOU'RE PREPARED TO LOSE MONEY, IF NOT ALL.)
(CRYPTOCURRENCY CAN BE HIGH-RISK INVESTMENTS DUE TO THE VOLATILLITY OF IT'S NATURE, AND YOU SHOULD NOT EXPECT TO BE PROTECTED IF SOMETHING GOES IN THE WRONG DIRECTION. SEEK PROFESSIONAL ADVICE FROM A CERTIFIED FINANCIAL ADVISOR.)
Solonausdt
#SOLUSDT #SOLONATrade setup: Following a bearish breakout from Ascending Triangle, price remains stuck in a Sideways Channel ($30-45). Swing trader could enter near $30 support and exit near $45 resistance zone. (set a price alert). Solana is experiencing strong adoption by NFT projects, which is driving solid growth in transaction volumes.
Trend: Uptrend on Short-Term basis and Downtrend on Medium- and Long-Term basis.
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).
OBV (On Balance Volume): is flat, indicating that volume on Up days is equal to volume on Down days. Hence, demand from buyers and supply from sellers are in equilibrium
Support and Resistance Nearest Support Zone is $30, then $25. The nearest Resistance Zone is $45, then $60.