#SOL Formation

2024.11.21

UTC 20:00

My followers know that I don't draw too many formations because the crypto market is a graveyard of formations, but let's take a rough look anyway.

Solana completed the cup formation by reaching 260 very clearly. It reached the First Target. (We would have liked the cup shape to be clearer, but the Israel-Iran issue caused a significant deviation in the trend)

There are two options before continuing;

Either it will enter a correction from here (handle) or it will continue 260 up for a while and then return and touch 260 again and get confirmation of the rise with that support (I don't like using re-test, confirmation, cart-curt, but this is exactly what it means here.

In any case, its second target is to go up as much as the size of the cup. (Approximately 511 levels) After that, there is another significant correction.