After experiencing a crazy increase in the past 2 weeks, Solana is starting to enter a positive trend on its mission to return to its All Time High.
However, the potential for price correction always exists in every up trend.
The following is a chart image $SOL from July to August in 2022.
It was clear that when Solana touched the $47 level, sellers always strengthened, making the needle long on the daily candle several times.
Apart from that, the $34 level was a solid floor even though it was still broken in the end.
However, will the movement that occurred 1 year ago happen again?
The following is an image of the Solana chart for today, November 5, 2023.
In the picture, it is clear that Solana is repeating the same pattern 1 year ago, namely when it touched the $47 level, sellers always strengthened, creating a daily candle with a long needle.
However, here it is a little different from the chart 1 year ago, where when Solana touched the $40 level, buyers made the Solana price bounce slightly, creating temporary support.
Does Solana have the potential to correct to $34 like last year? The possibility can still happen, but whether it will happen or not is still up to the market to determine.
