Solana's long-term chart shows a promising structure, indicating potential growth to $400-$1,100 in this cycle. However, a Wave 4 correction is forming, with crucial support levels between $159-$189.
Key Levels:
- Support: $159-$189
- Resistance: $380-$490 (Fibonacci levels)
- Short-term targets: $400-$1,100
- Long-term potential: $4,000+
Insights:
- Maintaining support above $159-$189 is crucial for bullish momentum.
- Overcoming $380-$490 resistance could trigger a significant rally.
- Future cycles may see exponential growth beyond $4,000.
While short-term risks exist, Solana's long-term prospects look promising. Keep an eye on key levels for potential buying opportunities.
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