Solana: A near miss from a major dump

What's in this article

Yesterday we predicted Solana price to slump because of descending triangle pattern. Bitcoin’s reversal saved Solana however it was a near miss and we have a positive breakout from the pattern.

Solana price today is $182.52 USD with a 24-hour trading volume of $3,866,407,423 USD. Solana is up 10.44% in the last 24 hours, with a market cap of $56,176,983,088 USD. It has a circulating supply of 307,789,981 SOL coins.

Source: Tradingview

Solana: Analysis

Solana is continuously rising on curved support breaking the descending triangle pattern. The target for Solana here is at the local resistance level of $188, fib 1.44. The local support of Solana is first at EMA 200 and 100 converging however it seems like the support of the curve line will not be respected so long as the selling pressure rises on a shorter time frame.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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