Will Solana ($SOL) retract to $150 before hitting a $250 ATH?

9 ก.ย. 2021

SOL is following a solid trendline and while I would never short at this point, it's highly likely that the price will come down to that trendline sooner or later. If you look at the previous times this has happened it's been on an average of 16 bars on the 4 hour chart. Since we have a few significant green candles in play right now we could expect it to take a bit longer to come back to the trendline, say, 20 bars.

I'm targeting $150 as I think there could be a support-resistance flip on the trendline, coming back to the major support levels at the monthly R2, before climbing around 45% (as per previous pumps) from the trendline. That's a $250 target.