#solana IMPORTANT ZONE
Currently, SOLANA is trading at $36. For the past few days, it had been following a rising channel, which it broke out of two days ago. It is now attempting to re-enter that channel. Additionally, there is a notable resistance zone in the range of $37-$40, which has historically caused price declines in Solana's trading history, making this a critical level.
Given that the RSI (14) is currently high, a correction could be anticipated in this area. After the correction, we might see a potential breakout above the $40 level. If it manages to surpass $40, the initial target could be in the range of $47-$50. As a precaution, it is advisable not to initiate any trades at this moment and instead wait for the right opportunity. While there may be an opportunity to gain 10-20% if the price moves favorably, it is important to be aware that this involves a high level of risk. We should also consider risk reduction strategies.
