SOLANA Price Prediction, Will Bulls Triumph or Stumble
- The ongoing pullback in Solana's coin price has discovered robust support at the $51.4 level.
- In the last fortnight, the price has experienced two rebounds from this point, indicating persistent accumulation by buyers amidst market downturns—an activity frequently linked with robust market resurgence.
- Over the past three days, the coin's price has witnessed a notable surge of 11.80%, currently standing at $60.50.
SOLANA retracement boosts buyer confidence, fueling uptrend.
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According to Coingabbar Price Analysis, Solana's price has exhibited a three-week period of sideways trading, oscillating between the $51.4 and $68.00 horizontal levels.
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Solana price undergoes a revival, marked by a rounding bottom pattern.
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Recovering robustly, SOL finds support at the lower trendline of a triangle pattern.
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Having breached the triangle, SOL now trades above it.
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On the 4-hour chart, a triangle breakout presents a short-term entry, encountering resistance at the $62 supply zone.
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A bullish rally looms if SOL closes above $62, aiming for $68.00.
KEY LEVELS :
RESISTANCE LEVEL : $62.00-$64.00
SUPPORT LEVEL : $58.00-$56.00
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.
