$SOL

Here’s an analysis based on the visible candle patterns and technical structure:

1. Ascending Channel:

• The price is currently moving within an ascending channel (outlined by the pink trendlines). This suggests a bullish bias as long as the price remains within the channel.

• The upper pink line acts as resistance, while the lower pink line serves as support.

2. Current Trend:

• The price is gradually approaching the mid-point of the channel after bouncing from the lower trendline. This indicates a recovery within the overall bullish pattern.

3. Candlestick Patterns:

• Reversal Signs: Around the recent low near the lower trendline, you can spot bullish reversal candles like long wicks at the bottom, indicating strong buying pressure.

• Consolidation: The current candles show smaller bodies, suggesting a period of indecision or consolidation before the next move.

4. Key Resistance Levels:

• The horizontal red line at approximately $248 is acting as a strong resistance. The price will need to break this level decisively to move higher toward the upper blue trendline.

5. Key Support Levels:

• The lower pink trendline near $240 provides key support. A break below this level could signal a reversal of the ascending trend.

Predictions:

• Bullish Scenario: If the price breaks above $248 with strong bullish candles, it could aim for $252 or the upper trendline near $256.

• Bearish Scenario: If the price fails to hold $240 and closes below the lower trendline, the next target could be $236 or lower.