Solana (SOL) and Injection Protocol (INJ) Breakout Potential

Despite the strong selling pressure currently facing Bitcoin (BTC), several altcoins have been trending upwards over the past few days. Solana ($SOL) and Injection Protocol ($INJ) are two altcoins with relatively solid fundamentals and are about to breakout. So, will these breakouts happen? What are the upside targets?

$SOL Breakout or Rejection?

$SOL has been steadily rising over the past 5 days, gaining 17% from a bottom of $121. The current price is encountering some resistance at $142, which also intersects with the short-term descending trendline (dashed line). If the price can break above this level, the next move could be a breakout from the triangle pattern – provided $BTC allows it.

The weekly chart for $SOL shows that the price is currently trading above the 0.382 Fib. The price has yet to drop to the 0.618 Fib, which is a very bullish sign. If the price continues to rebound from here and breaks above the $142 resistance, $SOL could continue to move bullishly.

If broken, upside targets are $164 (0.618 Fib) and $206 (0.786 Fib). After that, resistance is at $250, followed by the all-time high of $260.

$INJ builds a beautiful price structure

$INJ's price structure looks ripe for a possible breakout. A strong price base has been established at the $118 level, and the short-term downtrend line may be about to be broken. If a breakout occurs, there is some resistance at $23 and $30, followed by the main resistance at $31. Want to know more about the first-hand information and in-depth analysis of the currency circle? Hurry up and click on the homepage to view the introduction, bringing you the latest market analysis and high-quality potential currency recommendations every day

Breaking through this level will allow $INJ to enter the next step up and form a new base at $31. The next target at the top of the range is $45, followed by the all-time high of $53. This series of good price structures suggests that if $INJ can eventually stand above $45, a higher price platform will have been established for the remainder of the bull market.

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