Solana already has significant fundamental reasons to be bullish. It’s been around, it’s got a place in the market long term.
I’ve seen charts hinting at a drop to $150 or $180 due to the current wedge formation that it’s in. which wouldn’t surprise me but IMO would require Bitcoin to crash or some other catalyst.
As you can see after Solana’s last major pump the price went into a descending wedge created a local floor and broke up. Each time it broke up a descending wedge was created with slopes closer to 0 causing the graph to range in this last portion of its major wedge formation.
Depending on how you see it this series of wedges could be indicating a wave pattern with increasingly bullish momentum. With the current deceasing wedge ranging almost totally sideways it’s possible we could see the next breakout go almost vertical with some nice gains for those that are ready. I think a breakout could be possible to somewhere between $240 and $290.
Totally speculation and I think we all know it will go up eventually but the idea is fun. Been trading stocks crypto forex for two years. Let me know if I’ve learned anything or if I’m fooling myself. DYOR. Best of luck to everyone.
I’ve seen charts hinting at a drop to $150 or $180 due to the current wedge formation that it’s in. which wouldn’t surprise me but IMO would require Bitcoin to crash or some other catalyst.
As you can see after Solana’s last major pump the price went into a descending wedge created a local floor and broke up. Each time it broke up a descending wedge was created with slopes closer to 0 causing the graph to range in this last portion of its major wedge formation.
Depending on how you see it this series of wedges could be indicating a wave pattern with increasingly bullish momentum. With the current deceasing wedge ranging almost totally sideways it’s possible we could see the next breakout go almost vertical with some nice gains for those that are ready. I think a breakout could be possible to somewhere between $240 and $290.
Totally speculation and I think we all know it will go up eventually but the idea is fun. Been trading stocks crypto forex for two years. Let me know if I’ve learned anything or if I’m fooling myself. DYOR. Best of luck to everyone.