Lokesh Gupta
09-03-2024
#Solana recently surged past the $150 mark, its highest point since January 2022, before experiencing a slight pullback.
On March 5th, Solana's value dropped to $110 but quickly rebounded, indicating strong buyer interest during market dips.
A long-tail rejection candle suggests that Solana's price has been sustained above the $120 support level, maintaining a bullish outlook with the formation of a cup and handle pattern.
Following a breakout from the cup and handle pattern, Solana's price is positioned to exceed $150, with potential for a 67.4% growth to reach $250.
Positive momentum suggests Solana could soon reach $160, with further potential to reach $200, indicating a notable market recovery.
On the daily chart, Sol has encountered resistance at the upper boundary of the Ascending channel pattern.
However, failure to surpass resistance at $160 could lead to a downward correction, potentially testing crucial support at $120 amid overall market pressure.
According to Coingabbar's analysis, Solana price prediction 2030 to hover around $500, while Solana price prediction 2040 forecasts $1000.
KEY LEVELS :
RESISTANCE LEVEL : $153-$160
SUPPORT LEVEL : $142-$135
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Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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