Solana is starting to stand out with notable relative strength versus both Bitcoin and Ethereum, and it's catching my attention this week.
✅ Key Support Holding:
Price recently held firm at the $185–$190 support zone, bouncing with strength and attempting to establish a higher low. If this level holds, it would further confirm the uptrend in place since April.
📉 Corrective Phase Since September:
Despite the pullback, the larger trend structure remains bullish. A break above the September high is still needed to confirm trend continuation.
🔵 Multi-Month Saucer Formation:
A rounded base is developing on the daily chart—a classic saucer bottom. If confirmed, this pattern points to major upside potential, with a projected move possibly targeting $500 over time.
⚠️ Watch This Zone Closely:
The $250–$260 resistance area is the key overhead level to clear. A decisive breakout here could trigger a strong rally and confirm the saucer breakout.
📌 Summary:
Solana is showing resilience, building a bullish structure, and forming a significant base. If momentum builds above $260, bulls may take control in a big way.
✅ Key Support Holding:
Price recently held firm at the $185–$190 support zone, bouncing with strength and attempting to establish a higher low. If this level holds, it would further confirm the uptrend in place since April.
📉 Corrective Phase Since September:
Despite the pullback, the larger trend structure remains bullish. A break above the September high is still needed to confirm trend continuation.
🔵 Multi-Month Saucer Formation:
A rounded base is developing on the daily chart—a classic saucer bottom. If confirmed, this pattern points to major upside potential, with a projected move possibly targeting $500 over time.
⚠️ Watch This Zone Closely:
The $250–$260 resistance area is the key overhead level to clear. A decisive breakout here could trigger a strong rally and confirm the saucer breakout.
📌 Summary:
Solana is showing resilience, building a bullish structure, and forming a significant base. If momentum builds above $260, bulls may take control in a big way.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.