Solana (SOL) : Approaching End of Triangle Pattern - What’s Next?
#SolanaStrong #SolanaUSTD #Solana_Blockchain #BinanceSquareFamily #BinanceEarnProgram Solana (SOL) is nearing the final phase of its "triangle pattern", and two scenarios could unfold:
1. 26% Upside Potential : SOL is approaching the upper resistance while holding above its "EMAs". A breakout, followed by a successful re-test of the resistance, could lead to a strong "26% upward move".
2. "30% Downside Risk " : If the price gets rejected at the resistance or fails to hold after a breakout, attention shifts to the support zone. A break below support, confirmed by a re-test, could result in a "30% downside move".
Conclusion :
Solana is at a critical juncture within its triangle pattern. Traders should keep a close eye on how the price reacts to the resistance and support zones to determine the next big move.
Advice for Traders and Investors :
- Monitor for a **confirmed breakout** or **rejection** at resistance.
- Set stop-losses to manage risk, especially if price breaks below key support levels.
- Stay cautious, as both upside and downside moves are possible from this pattern.