✴️ Solana | What's The Potential Now? (Update)

The major downtrend coming off the November top/ATH has been broken, which is the most important signal.

On a weekly basis, Solana grew by a nice 236% from late December to late January... This type of move needs a correction or minimum a period of consolidation before additional growth can take place.

We have very high buy volume in January and while SOLUSDT is trading below its June 2022 low, the last two weeks that closed red were low volume and this weeks the current session is trading above EMA10.

The RSI is strong, the MACD histogram green while trending up.

This is the retrace and consolidation taking place, it can last a few more days or weeks, it varies but the projection remains strong on the bulls side and we expect prices to continue growing.

Short-term there is strong support at 21.35 and 16.91.

The targets are even better because the next jump can take Solana straight to 32.65 and 45... With additional growth possible as February ends and March starts.

March marks the start of the spring and everything will blossom, crypto included.

Namaste.