SOL surges past the $150 mark. Is it still possible to enter the market now? Is there still a chance?
Solana (SOL) is a cryptocurrency that runs on its own scalable blockchain, which enables faster transaction speeds and was officially launched in March 2020.
SOL, the native token of the Layer-1 Solana ecosystem, known as the "Ethereum killer", is also ready for this week's bull run.
The price trend of SOL indicates that a double bottom may form at the 50% Fibonacci level, while it is supported by the 50W EMA.
Last week, SOL rose 12% and this week it rose another 2.97%, showing a strong upward trend.
If SOL can break through the 61.80% Fibonacci level of $158, the bull run of this altcoin may hit the $200 mark.
According to the Fibonacci level, the price of SOL may even reach $400 this year, thus setting a new record high.
For investors, SOL is a potential currency that deserves close attention.
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During the decline, this dense trading area will become an effective support position. Once it falls below this support, according to the principle of polarity conversion, it will turn into a pressure position during the rise.
If this position can be effectively broken through, then this wave of upward trend will continue, so we should pay close attention to the subsequent K-line trend and analyze whether it is a real breakthrough or a lure.
