SOLANA : BULLISH BREAKOUT TO COME
- As for all cryptocurrencies, SOLANA has experienced a bullish rally since October 2023. The medium-term trend is therefore clearly bullish.
- Since the end of December 2023, the market has been in a consolidation phase in the shape of a symmetrical triangle, generally perceived as a trend continuation pattern. The two long exponential moving averages are still in a bullish configuration, supporting the market.
The RSI has even already announced the resumption of the rise by displaying a bullish break-out of its bearish trend line.
- This situation is seen as bullish for SOLANA. Even if prices have still not broken out of their downward trend line, the presence of a trend continuation pattern makes it possible to envisage a resumption of the underlying bullish trend.
Furthermore, the break-out anticipated by the RSI also allows us to consider that the bearish correction is now over.
The next targets may be at $104.60, $114 then $122.85 and higher by extension.
- Since the end of December 2023, the market has been in a consolidation phase in the shape of a symmetrical triangle, generally perceived as a trend continuation pattern. The two long exponential moving averages are still in a bullish configuration, supporting the market.
The RSI has even already announced the resumption of the rise by displaying a bullish break-out of its bearish trend line.
- This situation is seen as bullish for SOLANA. Even if prices have still not broken out of their downward trend line, the presence of a trend continuation pattern makes it possible to envisage a resumption of the underlying bullish trend.
Furthermore, the break-out anticipated by the RSI also allows us to consider that the bearish correction is now over.
The next targets may be at $104.60, $114 then $122.85 and higher by extension.
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