Rising Channel Rally: SOL displays a rising channel rally in the 4-hour chart, indicating ongoing bullish momentum.
Rounding Bottom Reversal: A rounding bottom reversal pattern in the short-term trend suggests SOL is poised to cross $65.
Potential Breakout to $75: A breakout of the overhead resistance trendline could elevate SOL's price to $75.
Support from Baseline at $51: SOL finds strong support at the crucial baseline of $51, affirming the bullish trend.
Increased Trading Volume: The rising trend in trading volume in the 4-hour chart supports the bullish thesis.
Testing Overhead Resistance Trendline: SOL is currently testing the overhead resistance trendline of its rising channel.
Current Trading Price: SOL trades at $66.20, with an 8.30% intraday growth.
Positive Trend in Daily Chart: The daily chart shows a clear bullish comeback with increasing demand.
Technical Indicators - RSI and MACD: The RSI indicates a positive trend, nearing overbought territory, while the MACD hints at a bullish crossover.
Bullish Continuation Above $65: There's high potential for SOL to continue its uptrend, surpassing the $65 mark.
Long-Term Target of $100: In the longer term, SOL could potentially reach the psychological level of $100.
Risk of Decline to $44-$45: A failure to maintain momentum might lead to a retest of $50 and a possible decline to the $44-$45 range.
Rounding Bottom Reversal: A rounding bottom reversal pattern in the short-term trend suggests SOL is poised to cross $65.
Potential Breakout to $75: A breakout of the overhead resistance trendline could elevate SOL's price to $75.
Support from Baseline at $51: SOL finds strong support at the crucial baseline of $51, affirming the bullish trend.
Increased Trading Volume: The rising trend in trading volume in the 4-hour chart supports the bullish thesis.
Testing Overhead Resistance Trendline: SOL is currently testing the overhead resistance trendline of its rising channel.
Current Trading Price: SOL trades at $66.20, with an 8.30% intraday growth.
Positive Trend in Daily Chart: The daily chart shows a clear bullish comeback with increasing demand.
Technical Indicators - RSI and MACD: The RSI indicates a positive trend, nearing overbought territory, while the MACD hints at a bullish crossover.
Bullish Continuation Above $65: There's high potential for SOL to continue its uptrend, surpassing the $65 mark.
Long-Term Target of $100: In the longer term, SOL could potentially reach the psychological level of $100.
Risk of Decline to $44-$45: A failure to maintain momentum might lead to a retest of $50 and a possible decline 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.