Short-term Potential Scenarios
On the 1-hour chart, Solana shows that it is at a support level of $142, which acts as a valid support. This area could be where buyers step in and push the price towards higher levels.
Potential Scenarios:
Maintaining Support and Moving to Higher Levels:
If SOL can maintain the $142 support and then stabilize above the downward trend and the $148 level, this movement could lead to a continuation of the upward trend, reaching targets of $152 and $160. These levels act as potential resistances, and breaking through them could signal further strengthening of the bullish trend.
Breaking Support and Price Reversal:
If the price fails to hold the $142 support, there is a possibility of a return to lower support levels. In this scenario, traders should carefully observe the market’s reaction to these levels to make better decisions.
Potential Scenarios:
Maintaining Support and Moving to Higher Levels:
If SOL can maintain the $142 support and then stabilize above the downward trend and the $148 level, this movement could lead to a continuation of the upward trend, reaching targets of $152 and $160. These levels act as potential resistances, and breaking through them could signal further strengthening of the bullish trend.
Breaking Support and Price Reversal:
If the price fails to hold the $142 support, there is a possibility of a return to lower support levels. In this scenario, traders should carefully observe the market’s reaction to these levels to make better decisions.
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