Technical Analysis for Solana (SOL) Analysis by Jesus Sanchez Bermejo
In the graph provided by BELOBABA we can see a type of channel that I explain in my technical analysis book, published in 2014, on price channeling. Namely:
Channel L: The one in which the price hits the floor once and then hits the ceiling twice and hits the floor once again.
That's what SOL did at the end of 2020 and then hit the top of the channel in 2021 and hit the bottom again in parallel at the end of 2022.
Afterwards... it has hit the ground again two more times and from there, with triple confirmation in an uptrend, it went up and up (graph observed in logarithmic trend).
The graph that we observe also has a medium target, so the price structure has like "two floors", two levels.
The "logical" thing within the difficulty of measuring the future of a price in technical analysis is that SOL approaches the central part or ceiling of the lower channel again. That happens, we can see SOL again in the 250/300 USD area. The operation with temporality indicates that the possibility that, if it happens, it will get there, it will even be in 2024. Again I repeat, that each one with his money...
Remember the newest ones, that if a price rises it does not do so in a straight line. Rising lows are necessary and at any time a profit taking can come and fall to make that LH (low high/continuation rising low).
