Solana 100 w / 200 w golden crossover imminent?solana / usd binance, 1 W , auto log scale
Last weekends panic dump found support on the 50W SMA.
There is a 100 W / 200 W golden cross incoming in the next two weeks.
We are reaching the end of the bull pennant that began forming in feb/ march. Although, there are new highs and new lows that could arguably redraw this pennant into a flag. If its a flag and not a pennant we could go sideways for longer in the flag formation. I personally think that more sideways movement is better, coiling the spring and (if it breaks upwards) a larger and longer bull market.
But if it is a pennant, and combining with the potential golden cross it seems like that's a meaningful coincidence likely to breakout upwards. I say upwards because the trend is your friend.
Also, the same 100 w / 200 w crossover is happening on bitcoin, at pretty much the same intersect.
