#Solana will reach US$ 450?
Solana price $SOL hits the 3-month high
These 5 analysts expect a new yearly high
The price of Solana (SOL) has been rising rapidly since October 13 and is approaching its annual high.
Solana’s price has also broken an inverse head and shoulders pattern.
How long will it keep climbing?
Analysts are bullish on Solana
Analysts in #criptomonedas have a predominantly bullish sentiment toward Solana.
Tradermayne believes the price will rise to US$ 40. But his bullish analysis is conditional on a weekly close with a bullish candle.
Rager and DaanCrypto also noted the importance of the horizontal resistance area of US$ 38, which lines up with the annual high. This area has been crucial since 2021, supporting and resisting.
Finally, CryptoGodJohn believes the SOL price will eventually reach US$ 250 in the long term and could even reach US$ 450 if it reaches #Ethereum’s market cap.
Will it reach the new annual high?
The daily timeframe shows that the SOL price has been trading within an inverse head and shoulders (IH&S) pattern since February.
IH&S is considered a bullish pattern, which generally leads to breakouts.
Today, the SOL price is in the process of breaking the pattern’s neckline. A daily close above US$ 26 will confirm the altcoin breakout.
#crypto2023 #cryptocurrency
Solana price $SOL hits the 3-month high
These 5 analysts expect a new yearly high
The price of Solana (SOL) has been rising rapidly since October 13 and is approaching its annual high.
Solana’s price has also broken an inverse head and shoulders pattern.
How long will it keep climbing?
Analysts are bullish on Solana
Analysts in #criptomonedas have a predominantly bullish sentiment toward Solana.
Tradermayne believes the price will rise to US$ 40. But his bullish analysis is conditional on a weekly close with a bullish candle.
Rager and DaanCrypto also noted the importance of the horizontal resistance area of US$ 38, which lines up with the annual high. This area has been crucial since 2021, supporting and resisting.
Finally, CryptoGodJohn believes the SOL price will eventually reach US$ 250 in the long term and could even reach US$ 450 if it reaches #Ethereum’s market cap.
Will it reach the new annual high?
The daily timeframe shows that the SOL price has been trading within an inverse head and shoulders (IH&S) pattern since February.
IH&S is considered a bullish pattern, which generally leads to breakouts.
Today, the SOL price is in the process of breaking the pattern’s neckline. A daily close above US$ 26 will confirm the altcoin breakout.
#crypto2023 #cryptocurrency
