Solana

altFINS

Uniswap

FLOKI

Resistance

<p>Solana (SOL) has recently broken out of a rounding bottom pattern on the macro scale, according to trader <a href="https://twitter.com/MikybullCrypto/status/1770723914668216353" target="_blank" rel="noopener noreferrer nofollow">Milkybull C</a><a href="https://twitter.com/MikybullCrypto/status/1770723914668216353" target="_blank" rel="noopener noreferrer nofollow">r</a><a href="https://twitter.com/MikybullCrypto/status/1770723914668216353" target="_blank" rel="noopener noreferrer nofollow">ypto</a>. This breakout has set the stage for SOL to potentially reach ambitious price targets of $429 to $689 in the coming months.</p>
<h2 class="wp-block-heading" id="successful-retest-in-progress">Successful Retest in Progress</h2>
<p>Renowned analyst Rekt Capital has also <a href="https://twitter.com/rektcapital/status/1770934079552205132" target="_blank" rel="noopener noreferrer nofollow">noted</a> that Solana is currently undergoing a successful retest of its previous breakout level. A successful retest is often seen as a bullish confirmation, suggesting that the uptrend is likely to continue.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="581" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-976-1024x581.png" alt="" class="wp-image-457488" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-976-1024x581.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-976-300x170.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-976-768x436.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-976-1536x872.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-976-2048x1163.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-976-264x150.png 264w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-976-100x57.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-976-616x350.png 616w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-976-788x447.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-976.png 1946w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Maintaining SOL’s position above the retest level could establish a strong foundation for further price appreciation, thereby validating Milkybull Crypto’s bullish outlook.</p>
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<h2 class="wp-block-heading" id="technical-analysis-approaching-resistance-and-uptrend-confirmation">Technical Analysis: Approaching Resistance and Uptrend Confirmation</h2>
<p>According to altFINS, a leading technical analysis platform, Solana’s near-term outlook is neutral, with the token approaching a key resistance level. The platform has identified an emerging pattern of SOL nearing resistance, which could potentially lead to a breakout or a pullback.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="686" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-977-1024x686.png" alt="" class="wp-image-457496" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-977-1024x686.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-977-300x201.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-977-767x514.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-977-1536x1029.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-977-2048x1372.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-977-224x150.png 224w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-977-100x67.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-977-522x350.png 522w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-977-788x527.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-977.png 1794w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>According to altFINS, SOL is currently in an uptrend over all time horizons (short, medium, and long-term), with the MACD line above the MACD signal line and the RSI above 55 indicating bullish momentum.</p>
<p>However, after reaching the $200 resistance level, SOL became overbought, with the RSI reaching around 85. This led to a pullback as some traders took profits. altFINS suggests two potential scenarios for traders looking to enter the market:</p>
<ol>
 <li>Wait for SOL to break above the&nbsp;200 resistance level, confirming the continuation of the uptrend.</li>
 <li>Look for a pullback near the $160 support level, which could provide an attractive entry point.</li>
</ol>
<h2 class="wp-block-heading" id="key-support-and-resistance-levels-to-watch">Key Support and Resistance Levels to Watch</h2>
<p>altFINS has identified several key support and resistance levels for SOL. The nearest support zone is located at $158, followed by $140. On the upside, the nearest resistance zone is $180.&nbsp;</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-978-1024x573.png" alt="" class="wp-image-457504" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-978-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-978-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-978-767x429.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-978-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-978-2048x1146.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-978-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-978-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-978-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-978-788x440.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><em>Source: </em><strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p>
<p>Solana’s breakout from the rounding bottom pattern and its successful retest of the breakout level have caught the attention of traders and analysts alike. With bullish price targets ranging from $429 to $689, SOL appears to be well-positioned for further growth in the coming months.</p>
<p>However, as with any investment in the volatile cryptocurrency market, it is essential for traders to exercise caution and conduct thorough research before making any decisions. By closely monitoring key support and resistance levels and employing sound risk management strategies, traders can potentially capitalize on SOL’s uptrend while minimizing their exposure to sudden market shifts.</p>
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 <li><a href="https://captainaltcoin.com/uniswap-faces-crucial-test-at-former-resistance-analyst-shares-how-low-can-uni-plummet/" target="_blank" rel="noopener noreferrer nofollow">Uniswap Faces Crucial Test at Former Resistance: Analyst Shares How Low Can UNI Plummet</a></li>
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<p>The post <a href="https://captainaltcoin.com/solana-breaks-out-of-rounding-bottom-pattern-analyst-shares-next-key-sol-targets/" rel="noopener noreferrer nofollow">Solana Breaks Out of Rounding Bottom Pattern, Analyst Shares Next Key SOL Targets&nbsp;</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Solana Breaks Out of Rounding Bottom Pattern, Analyst Shares Next Key SOL Targets

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