Following a nearly 100% surge in the Solana-based meme coin BONK, Solana experienced a 9% increase.
On the daily chart, SOL is exhibiting both higher highs and lower lows in its trading pattern.
The SOL price is poised for a renewed rally, contingent on a successful close above the $80 resistance.
According to Coingabbar Price Analysis, SOL price displays a notable recovery, forming a tweezer bottom reversal and surpassing $75.
Solana shows signs of upward momentum, aiming to transform the $78 resistance into a support level, potentially paving the way for a triple-digit valuation.
Trading within the top of a rising channel pattern on the daily chart indicates a positive trend for Solana.
On the 4-hour chart, Solana exhibits a V-shaped pattern, indicative of a bullish reversal trend.
The breach of the neckline in the rounding bottom formation suggests SOL's potential to exceed $100 in the near future.
KEY LEVELS :
RESISTANCE LEVEL : $80.00-$83.00
SUPPORT LEVEL : $76.00-$74.00
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
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