Solana continues to trade within a bullish structure after breaking above key resistance. Momentum indicators suggest short-term exhaustion, opening room for a potential retracement.
The nearest demand zone lies between $216 – $202, which could serve as a re-entry area if price corrects lower. As long as this zone holds, the medium-term outlook remains bullish.
Fibonacci projections point towards $280 – $300 (1.236 – 1.618 extension) as the next upside targets, aligning with a potential strong resistance area.
In summary, while a short-term pullback is possible, the broader trend remains bullish with clear demand support below and Fibonacci targets above.
The nearest demand zone lies between $216 – $202, which could serve as a re-entry area if price corrects lower. As long as this zone holds, the medium-term outlook remains bullish.
Fibonacci projections point towards $280 – $300 (1.236 – 1.618 extension) as the next upside targets, aligning with a potential strong resistance area.
In summary, while a short-term pullback is possible, the broader trend remains bullish with clear demand support below and Fibonacci targets above.
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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.