- As for all cryptocurrencies, SOLANA has experienced a bullish rally since October 2023. The medium-term trend is therefore clearly bullish.
- Since the end of December 2023, the market has been in a consolidation phase in the shape of a symmetrical triangle, generally perceived as a trend continuation pattern. The two long exponential moving averages are still in a bullish configuration, supporting the market. The RSI has even already announced the resumption of the rise by displaying a bullish break-out of its bearish trend line.
- This situation is seen as bullish for SOLANA. Even if prices have still not broken out of their downward trend line, the presence of a trend continuation pattern makes it possible to envisage a resumption of the underlying bullish trend. Furthermore, the break-out anticipated by the RSI also allows us to consider that the bearish correction is now over. The next targets may be at $104.60, $114 then $122.85 and higher by extension.
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.