Hi Traders, Investors and Speculators of the Charts 📈📉
Let's take a comprehensive look at Solana - and this analysis could hold true for many top altcoins at the moment, since we see very similar price action across the coins with the higher market cap values.
Technical Indicators:
📈Phoenix Ascending containing the RSI, LSMA, EMA and momentum (buyers or sellers control) Indicates that short term buying pressure has run out
📈 Fibonacci Bollinger Bands Price is currently rejected at the basis of the BBands on the weekly. Without a strong close above, the macro trend remains bearish
Chart Analysis: Immediate support zone is around $18, a likely place for a correction to land Fibonacci Retracement shows that should the bull run continue full steam ahead, next target after the short term correction is around $40
Remember to check out related ideas on Bitcoin and Cardano below!
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Thanks for this analysis, Eve. 'I sold my SOL' and came back $9 a few weeks ago. I think there will be some pullback and then possibly 28 and a move to 40 if your chart plays out. Good charting.