Where to Purchase Solana? 🛒
I'm optimistic about Solana, but it's important to note its correlation with Bitcoin.
In the short term, both Bitcoin and Solana are facing bearish trends due to recent breakouts.
I've identified two key support levels for Solana:
$164, aligned with the 100 EMA and 0.5 Fib, and
$157 to $160, corresponding to the 200 EMA and 0.618 Fib.
$160 holds historical significance, having been a top range in April and March.
Ideally, confirmation of support would be signaled by an increase in open interest, indicating more long positions.
I'm anticipating a bullish recovery from either $164 or, more likely, the $160 level, aiming for $175-$185 in the short term.
While a break above $170 from current levels is possible, recent reactions and open interest make it less likely.
Despite short-term bearishness in Bitcoin, my long-term optimism for Solana remains strong, especially considering its increasing total value locked.
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