Hello Traders,
There is no doubt that Solana is one of the most talked-about coins in the last two years.
Solana already made +200% from its lower bottom but we are still on the downtrend we may consider the last rise as a correction in a bigger bearish wave.
Solana is now testing the upper trendline which is a huge resistance.
if we are able to get a weekly close above 25$, this will be a very bullish signal and we may open long positions, our targets will be 37 and 45.
If Bulls fail to break this level(25$), that's the most likely will happen, we should see a retracement to 20$, 16$, and 12$.
Also, I don't see any blocker to make a new lower low in the mid-term, so please use a very strict risk and capital management strategy and don't gamble with your money.
There is no doubt that Solana is one of the most talked-about coins in the last two years.
Solana already made +200% from its lower bottom but we are still on the downtrend we may consider the last rise as a correction in a bigger bearish wave.
Solana is now testing the upper trendline which is a huge resistance.
if we are able to get a weekly close above 25$, this will be a very bullish signal and we may open long positions, our targets will be 37 and 45.
If Bulls fail to break this level(25$), that's the most likely will happen, we should see a retracement to 20$, 16$, and 12$.
Also, I don't see any blocker to make a new lower low in the mid-term, so please use a very strict risk and capital management strategy and don't gamble with your money.
Trade closed: target reached
