SOLANA Price Prediction, Bulls will ignite above above the hurdle

SOLANA price surged above $22.50 against the US Dollar.

Solana is currently in a favorable position, trading above $23 against the US Dollar, similar to Bitcoin. A potential substantial upswing for SOL might be on the horizon if it manages to surpass the $25 resistance level. In sync with the overall bullish sentiment in the cryptocurrency market at the start of the week, Solana appears to be in alignment with this trend. However, it's worth noting that SOL's recent price surge met resistance at the $25 mark, resulting in a reversal after a retest in early October.

Technical View:

According to Coingabbar Price Analysis, Solana has recently broken out of a triangle chart pattern on the daily timeframe, signaling the start of a potential upward trend. This breakout coincides with the formation of an inverted head and shoulders pattern, indicating a reversal and increased buying pressure in the crypto market. The price level around $25 is crucial, serving as resistance and garnering seller interest. A daily close above this level could support a 30% rally, targeting a high of $32 from July 14th.

KEY LEVELS :

RESISTANCE LEVEL : $24.50-$25.50

SUPPORT LEVEL : $23.00-$22.00

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.