We have been steadily declining vs. Bitcoin.
The Solana vs. Bitcoin chart however does highlight we are near an area of longterm support, and (speculating) have the opportunity to create a higher low, or otherwise revisit a range that has provided support in the past. Regardless, the timeline appears to point to a conclusion of the downward trend around April-May 2024. This chart does though seem to highlight the potential upside for this asset.
(Not financial advice as I am not a financial advisor.)
The Solana vs. Bitcoin chart however does highlight we are near an area of longterm support, and (speculating) have the opportunity to create a higher low, or otherwise revisit a range that has provided support in the past. Regardless, the timeline appears to point to a conclusion of the downward trend around April-May 2024. This chart does though seem to highlight the potential upside for this asset.
(Not financial advice as I am not a financial advisor.)
Note
Solana ran much faster than I or anyone else expected it seems. But we did expect Solana to run against BTC at some point. (I have not found a reason, but it did appear just before the run started Grayscale Solana Trust was accumulating.)Now that we are putting in new highs vs. BTC we need to consider where the next area of resistance is, which is obvious in this chart just above our current price.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.