SOLUSD Channel Up valid targeting $60.00.
Solana (SOLUSD) has been trading within a Channel Up pattern since the June 13 Low. As long as its Higher Lows (bottom) trend-line holds, it is a buy opportunity targeting its Higher Highs (top) trend-line. Technically it resembles, in 1D RSI terms also, the last rebound towards the ATH Lower Highs trend-line, which stopped just below the 1D MA200 (orange trend-line). That gives us a rough target zone of 58.00 - 62.00.
A break below the Support Zone, invalidates this pattern and if no higher point is made than the July 19 High, the selling can target the 2.0 2.0 Fibonacci extension at 14.35.
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A break below the Support Zone, invalidates this pattern and if no higher point is made than the July 19 High, the selling can target the 2.0 2.0 Fibonacci extension at 14.35.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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