Solana to gain 20% more as we have a breakout confirmation

What's in this article

Yesterday we spotted a descending triangle pattern of Solana with a perpendicular of more than 20%. The resistance was set near EMA 200 on the hourly chart.

Solana price today is $154.63 USD with a 24-hour trading volume of $2,098,757,455 USD. Solana is up 5.69% in the last 24 hours, with a market cap of $48,211,615,001 USD. It has a circulating supply of 311,777,995 SOL coins.   

Source: Tradingview

Solana: Analysis

Solana did not only break above that level but this swift rise turned the triangle pattern into a bullish sign. If followed, Solana might rise 20%, equivalent to triangle perpendicular, to $180 – the peak of January 04. Solana has local support at $148 near EMA 200 on the hourly chart. The resistance is at $155, fib 1.618 locally. The major resistance to our target could be at $170, fib 2.618. 

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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