General background and conclusions
Solana is showing a pre-split state - neutral with an upward slope, holding above MA-200 and receiving confirmation from structural patterns.
Technical signals point to the importance of the $188 level: its breakout will open the way to $200-206 and potentially to $247.
In the short term, growth to $180 is possible if the direction is confirmed.
In the absence of volumes and strength, a downward movement to the lower support of $160 and further is possible.
Recommendations
Strategy "buy on breakout": entry at the close and holding above $188 with a target of $200-206. Alternative: buy on dip to $160 in case of a technical rebound.
Stop loss: it is reasonable to place it just below $160.
Additional monitoring: It is important to monitor the dynamics of volumes, price behavior around $188, as well as the development of fundamental drivers (ETF, Firedancer, etc.) in order to clarify the movement scenario.
Solana is showing a pre-split state - neutral with an upward slope, holding above MA-200 and receiving confirmation from structural patterns.
Technical signals point to the importance of the $188 level: its breakout will open the way to $200-206 and potentially to $247.
In the short term, growth to $180 is possible if the direction is confirmed.
In the absence of volumes and strength, a downward movement to the lower support of $160 and further is possible.
Recommendations
Strategy "buy on breakout": entry at the close and holding above $188 with a target of $200-206. Alternative: buy on dip to $160 in case of a technical rebound.
Stop loss: it is reasonable to place it just below $160.
Additional monitoring: It is important to monitor the dynamics of volumes, price behavior around $188, as well as the development of fundamental drivers (ETF, Firedancer, etc.) in order to clarify the movement scenario.
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.
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.