SOLUSDT BullishTriangle pattern made big volatility on solana H4 chart. Bulls showed their power, bullish target is 236.5 level. Waiting for a good buy signal to enter this trade. Good luck!
Solusdtsignals
SOLUSDT 1WSOL ~ 1W
#SOL There's still a long way to go for NASDAQ:COIN CRYPTOCAP:ETH Killer,. Our target for $Solana is $400-$500.
Hold and buy again if the price dips.
Solana could drop to test 40 supportAfter the break above consolidation's resistance back in mid-October, Solana has risen very nicely and had a high at 68.
After the initial correction, a new leg-up followed, however, this new rise failed to pass above the previous high and SolUsdt fell again.
At this moment the coin is trading at 60 and a drop under 55 will confirm that a deeper correction could follow.
The target for this correction is 40 strong support zone
SOL target 2312h time frame
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SOL creating a rising channel or could be called as bearish flag, it just hit the channel top and got rejection. Also, there were two times SOL hit the upper uptrend line, and both got further dump. Both dumps satisfied 0.707~0.786 Fibonacci Retracement, so we can set target at the potential Fibonacci level around 20.5~23, this trading provides great risk to reward ratio(over 5)
TP: 20.5~23
SL: 40
SOL bottom Head and Shoulders1h time frame
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SOL creating a potential bottom HS. Currently, getting support at 19, However, right shoulder hasn't formed yet, so we might see lower low of RS. Neckline of this HS is obvious at 20.5
Once SOL break neckline on upside, there are two targets as below.
TP: 21.8~22.5 / 23.78
SOLUSDT Strong rise to 1D MA200. Is it enough?*** ***
For this particular analysis on Solana we are using the SOLUSDT symbol on the OKX exchange.
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The idea is on the 1D time-frame where SOL has been having the best rally since June after the October 21 bottom on the Support Zone. The price is approaching the 1D MA200 (orange trend-line), which has been unbroken since January 20. If broken, that would be on its own a major bullish break-out for the long-term, however there are still another two Resistance levels to consider.
First is the 48.50 Resistance (from the May 30 High) and second the Lower Highs trend-line since the November 06 market top. What stands out on this pattern really is, having turned the 1D MA50 (blue trend-line) into a Support, the 1D RSI is printing a similar sequence above its own Lower Highs trend-line as on March 23.
As you see, that sequence was also a consolidation mostly below the 1D MA50 and when Solana broke above it and turned it into a Support, so did the RSI and the subsequent rally topped right below the 1D MA200 where it was rejected, also on a Resistance similar to today's 48.50 and the massive sell-off of April - June started. We have copied the bars pattern of that sequence (black line) and as you see the fractal fits almost perfectly on the price action since late August.
So in our opinion it is crucial for the price to break now above the 1D MA200 for the first time since January 20, but is more important to break above the May 30 Resistance (48.50) and the Nov 2021 Lower Highs, where the previous fractal of March failed. A break above it can introduce us into the new Bull Cycle. If however the price gets rejected again at or near the 1D MA200, we should be expecting a pull-back to at least the October 21 Higher Lows trend-line (dashed line).
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