SOL/USDT price movement on the daily time frame. Here is an analysis based on the visual representation:
A symmetrical triangle pattern formed over a long period (August to November).
The price broke out of this triangle with strong bullish momentum, indicating a continuation of the uptrend.
After the breakout, the price entered a parallel descending channel, indicating a consolidation or correction phase.
The channel has well-defined support and resistance lines, with the price oscillating within boundaries.
The chart suggests a breakout from the descending channel on the upside.
A measured move from the channel width is anticipated to target the $300+ region, indicating a potential rally of around 50% from the breakout level.
Current Support: Around $200 (near the breakout level of the descending channel).
Immediate Resistance: Near $230 (previous high level and upper channel boundary).
Long-term resistance: $300+ (price projection from measured moves).
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DYOR. NFA
A symmetrical triangle pattern formed over a long period (August to November).
The price broke out of this triangle with strong bullish momentum, indicating a continuation of the uptrend.
After the breakout, the price entered a parallel descending channel, indicating a consolidation or correction phase.
The channel has well-defined support and resistance lines, with the price oscillating within boundaries.
The chart suggests a breakout from the descending channel on the upside.
A measured move from the channel width is anticipated to target the $300+ region, indicating a potential rally of around 50% from the breakout level.
Current Support: Around $200 (near the breakout level of the descending channel).
Immediate Resistance: Near $230 (previous high level and upper channel boundary).
Long-term resistance: $300+ (price projection from measured moves).
If you found this analysis helpful, hit the Like button and share your thoughts or questions in the comments below. Your feedback matters!
Thanks for your support!
DYOR. NFA
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Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.