Lokesh Gupta
30-01-2024
On January 23, 2024, the trend for Solana bottomed out at $79, marking a potential turning point as signs of recovery emerged.
A morning star pattern, aligning with the $80 support and the 38.20% Fibonacci retracement, suggests a promising bullish reversal.
#Solana price has increased by 30% in the last seven days.
Yesterday, the daily chart displayed a breakout from the descending channel pattern, indicating a shift in market dynamics.
Solana's price shows resilience above the 100-day Moving Average and an Ascending Trendline on the daily chart, strengthening the bullish sentiment.
If bulls keep the price above the trendline, SOL's next targets are $110 resistance, possibly extending to $120.
If the trendline is breached in a reversal, it may weaken momentum, causing $SOL price to potentially test $90 support soon.
According to Coingabbar's analysis, Solana #priceprediction 2030 remains around $300, while the Solana price prediction 2040 suggests a minimum value of $500.
KEY LEVELS :
RESISTANCE LEVEL : $107-$113
SUPPORT LEVEL : $100-$95
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
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.
5 months ago
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