Sol - Breakout of Triangle
Recently, we have seen a breakout of our triangle we have been monitoring. Prior analysis can be found here: https://www.tradingview.com/chart/SOLUSDT/dDYKEWnv-Solana-Demand-at-120/
Things look great for solana, but it is possible we see one more retest around the $160 level to confirm the old resistance of the triangle being flipped into new support. This is also because our RSI at the bottom is showing us at overbought conditions (red arrows). Once we close above the 70 level on the RSI we will have enough momentum for Solana to propel price back to the previous highs.
Things look great for solana, but it is possible we see one more retest around the $160 level to confirm the old resistance of the triangle being flipped into new support. This is also because our RSI at the bottom is showing us at overbought conditions (red arrows). Once we close above the 70 level on the RSI we will have enough momentum for Solana to propel price back to the previous highs.
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