Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 11975
Markets: 92589
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
11975
Cryptocurrencies
54.28%
Bitcoin Share
CoinGape 2024-12-24 12:28:24

Solana Price Forms A Mega Bullish Pattern, $300 Next?

Solana Price Forms A Mega Bullish Pattern, $300 Next?

Solana price today trades at $191 after falling by 27% from the year-to-date high $264. This crash has coincided with the recent crypto crash that has pushed Bitcoin and most altcoins sharply lower. Still, the weekly chart suggests that SOL price may be about to make a mega comeback in the next few days. Solana Price Analysis: Break And Retest Pattern Forms The weekly chart shows that the SOL price formed a symmetrical triangle chart pattern between March and November this year. This pattern came after the coin went vertical as it soared from below $20 to over $100. As such, there are signs that this pattern was part of forming a bullish pennant chart pattern, a popular continuation sign. The pennant pattern partially explains why the Solana price made a strong breakout and reached a high of $264, near its all-time high. Financial assets like crypto and stocks often retreat sharply after hitting a crucial resistance level such as an all-time high. The recent Solana price crash stalled when it tested the upper side of the pennant’s triangle pattern. This process is known as a break-and-retest, and it is usually a continuation sign in the market. An asset often resumes the original trend when it retests a crucial resistance or support level. On top of this, the recent SOL crash is likely part of the formation of the handle part of the C&H pattern. Like the bullish flag or pennant, a Cup and Handle is often a bullish continuation sign. Therefore, these patterns point to a potential comeback, with the initial target being at $265, the highest level this year. A break above that level will likely lead to more Solana price rally, with the next crucial price to watch being the psychological point at $300. Solana Price Chart Conversely, a drop below $160, in the middle of the triangle pattern, will invalidate the bullish chart pattern and point to more downsides, possibly to $100. SOL Price Rally Supported By Fundamentals Fundamentals will support a potential Solana rebound since the network is doing relatively well. Data shows that the network’s ecosystem is firing on all cylinders in the DEX industry. Solana’s protocols handled tokens worth over $126 billion in the last 30 days, much higher than the $94 billion that Ethereum processed. Solana’s DEX protocol like Raydium is handling more volume than Uniswap. Solana is also doing well in industries like DePIN, where networks like Helium and HiveMapper are leading their market share. Also, data by CryptoSlam shows that Solana’s NFT sales volume soared by 44% in the last 24 hours to $3.3 million. This growth made it the third-biggest chain in NFT after Ethereum and Bitcoin. It also helped the Solana network activity to rise to a record high. The post Solana Price Forms A Mega Bullish Pattern, $300 Next? appeared first on CoinGape .

Most Read News



Cryptohopper
hardware wallets, hardware , wallets, Crypto Currency, Cryptocurrency hardware wallets, Crypto Apparal, crypto wallet, Cryptocurrency wallets

Market Cap
24h Vol
54.28%
Bitcoin Share
0
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.