Cryptocurrency

Solana

<ul>
 <li>Market sentiment towards #<a href="https://www.coingabbar.com/en/crypto-currency/solana-sol-prices-usd" title="Solana" class="f-link" rel="noopener noreferrer nofollow">Solana</a> is displaying positive signs, signaling a potential bullish reversal.</li>
 <li>An observed rejection of lower prices from a support trend line indicates an increased probability of a bull cycle.</li>
 <li>A symmetrical triangle formation on the daily chart implies a period of sideways movement during the pullback phase.</li>
 <li>#Solana retraced to $135 after failing to maintain levels above $150, coinciding with both the 50% Fibonacci level and the support trendline.</li>
 <li>The sideways movement between the 50-day EMA and the 100-day EMA suggests the formation of a double-bottom pattern.</li>
 <li>Despite recent gains suggesting the emergence of a morning star pattern, the presence of a bearish candle during intraday trading limits the potential for a reversal.</li>
 <li>The neckline of the double-bottom pattern, identified at $160, hints that the ongoing recovery could trigger a breakout rally, with a target surpassing $200.</li>
 <li>According to <a href="https://www.coingabbar.com/en/price-prediction" title="Coingabbar's analysis" class="f-link" rel="noopener noreferrer nofollow">Coingabbar's analysis</a>, Conversely, the failure to realize the bullish scenario might result in a drop below $130, potentially leading to a decline in Solana's price to $100.</li>
</ul>
KEY LEVELS :
RESISTANCE LEVEL : $140-$145
SUPPORT LEVEL : $130-$126
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

Solana Price Prediction: Bulls Teeter on Fibonacci Tightrope

Coingabbar

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