ðĨ Solana Retesting 1.5 Year Wedge: Another Leg Up?
Over the course of ~18 months or so, SOL has formed a falling wedge pattern. Falling wedges are bullish reversal patterns.
After two huge green weeks, this week looks like a minor correction is taking place. Thus far, we're only down 7%, which is nothing compared to the ~200% move we've seen since the start of 2023.
If the top resistance line of the falling wedge pattern holds, I'll start looking for a continuation of the uptrend. For a confirmation, I'd wait for SOL making a new high, $25.
Targets in blue.
After two huge green weeks, this week looks like a minor correction is taking place. Thus far, we're only down 7%, which is nothing compared to the ~200% move we've seen since the start of 2023.
If the top resistance line of the falling wedge pattern holds, I'll start looking for a continuation of the uptrend. For a confirmation, I'd wait for SOL making a new high, $25.
Targets in blue.
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