SolanaShort
SOL Ascending Wedge / Weekly Chart
As you can see, the Solana price has been forming an ascending wedge formation since May 2022. This is a really long-term ascending wedge that has been going on for over two years. So it seems likely that it will continue to work.
What Awaits Us?
When we look carefully at the weekly candle contacts, we can say that the candle contacts in the lower and upper regions of the formation are successful. In the last 5 months, the upper region of the formation continues to work as resistance and there are 2 clear retest contacts after the $210 region. After the second retest contact, the price gave a voluminous red candle and then gave a doji candle.
With these, the probability of advancing to the lower region of the formation in the coming period seems higher for now. The lower region shows the range of $67 - $72.
What Awaits Us?
When we look carefully at the weekly candle contacts, we can say that the candle contacts in the lower and upper regions of the formation are successful. In the last 5 months, the upper region of the formation continues to work as resistance and there are 2 clear retest contacts after the $210 region. After the second retest contact, the price gave a voluminous red candle and then gave a doji candle.
With these, the probability of advancing to the lower region of the formation in the coming period seems higher for now. The lower region shows the range of $67 - $72.
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.
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.