Sustained Trend Above $50: SOL price is maintaining a strong position above the $50 mark.
Avoidance of Head and Shoulders Breakdown: In the 4-hour chart, SOL successfully avoids a head and shoulders pattern breakdown.
Potential for Long-term Uptrend: With the support trendline intact, the likelihood of a long-term uptrend in SOL increases.
Bullish Break of $66 Peak: A bullish break past the $66 peak could act as a catalyst for a run to $75.
Market Correction and Recovery: Despite market corrections, SOL's uptrend continues, showing buyer dominance.
Bullish Harami Breakout: SOL price exhibits a bullish harami breakout at the support trendline.
Surpassing 50 EMA: The bullish comeback surpasses the 50 EMA in the 4-hour chart, indicating further recovery potential.
Double-Bottom Pattern on 1D Chart: The 1-day chart suggests a double-bottom pattern forming at the $51 mark.
Recent Bull Run: An 11.48% bull run recently countered a previous 8.76% drop, forming an engulfing candle.
Current Trading Price: SOL is trading at $58.14, with a 1.01% intraday growth, suggesting continuation of the uptrend.
Technical Indicators - RSI: The daily RSI shows a declining trend, hinting at potential consolidation or a setback.
Downside Risk to $44-$45: If there's a downside reversal under $50, SOL prices could fall to the $44-$45 range.
Avoidance of Head and Shoulders Breakdown: In the 4-hour chart, SOL successfully avoids a head and shoulders pattern breakdown.
Potential for Long-term Uptrend: With the support trendline intact, the likelihood of a long-term uptrend in SOL increases.
Bullish Break of $66 Peak: A bullish break past the $66 peak could act as a catalyst for a run to $75.
Market Correction and Recovery: Despite market corrections, SOL's uptrend continues, showing buyer dominance.
Bullish Harami Breakout: SOL price exhibits a bullish harami breakout at the support trendline.
Surpassing 50 EMA: The bullish comeback surpasses the 50 EMA in the 4-hour chart, indicating further recovery potential.
Double-Bottom Pattern on 1D Chart: The 1-day chart suggests a double-bottom pattern forming at the $51 mark.
Recent Bull Run: An 11.48% bull run recently countered a previous 8.76% drop, forming an engulfing candle.
Current Trading Price: SOL is trading at $58.14, with a 1.01% intraday growth, suggesting continuation of the uptrend.
Technical Indicators - RSI: The daily RSI shows a declining trend, hinting at potential consolidation or a setback.
Downside Risk to $44-$45: If there's a downside reversal under $50, SOL prices could fall to the $44-$45 range.
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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.