๐ Solana (SOL) remains one of my top picks, and Iโm still bullish on it! With $SOL currently at $194.02 (+0.36%) and SOLUSDT Perp at $193.83 (+0.53%), I believe Solana has great potential to skyrocket to $375 ๐.
Current Situation:
Price: $194.02
24h Change: +0.36%
Market Sentiment: Positive, with Solana showing resilience despite recent pullbacks.
Technical Analysis Breakdown:
Support Levels: Solana broke the $204 support level, but crucially, it has not broken below our white ascending trendline. This trendline has proven to be strong support, helping Solana rise since December 20th.
Pattern: The Cup and Handle pattern is still valid, and despite the handle being deeper than Iโd like, Iโm sticking with this setup unless the support breaks. If the trendline holds, the breakout could send Solana soaring.
The Big Picture:
Target: My bullish target for Solana is $375, nearly a 2x increase from its current position! This is based on the assumption that the trendline holds and the Cup and Handle pattern continues to play out. ๐๐ฅ
Next Steps: Watch for any breakdowns in the support. If the trendline holds, we can see some incredible upside movement. But if it breaks, all bets are off!
What to Watch:
Keep an eye on the charts and stay informed about the market conditions. Solanaโs success hinges on this crucial support level holding.
Key Takeaways:
Solana is still holding strong despite some pullbacks, and the Cup and Handle pattern is still in play.
My bullish target remains $375, and Iโm sticking with it until proven otherwise.
DYOR (Do Your Own Research) and monitor the price action carefully.
๐จ Pro Tip: Crypto is volatile and ever-changing, so always stay informed and manage your portfolio with caution! ๐ธ๐
Let me know your thoughts on Solanaโs potential in the comments below! โฌ๏ธ#SolvProtocolMegadrop #BinanceAlphaAlert #MicroStrategyStockSale #BTCMiningPeak #BTCXmasOrDip?