Around a week ago I pointed out in my idea on SOL that if price could remain above the support levels pointed out that SOL could be heading higher in price due to breaking out of trendline resistance, retracing and testing the same trendline while remaining above the 50 SMA (red line) and support (red zone) that there stand a good possibility of SOL reaching the $26 zone
Well as of today SOLS's price reached the $26 area (grey zone)
If SOL can get a candle close on the daily timeframe above the resistance (grey zone), then to me this increases the probability for higher prices to come for SOL, eventually making it to the high that was made in NOV 22 at around $37.
A rejection from current levels could see price retrace back down to the red support zone, with that being said I believe that a lot depends on what BTC decides to do as many cryptos tend to follow in whatever direction BTC decides to go.
Well as of today SOLS's price reached the $26 area (grey zone)
If SOL can get a candle close on the daily timeframe above the resistance (grey zone), then to me this increases the probability for higher prices to come for SOL, eventually making it to the high that was made in NOV 22 at around $37.
A rejection from current levels could see price retrace back down to the red support zone, with that being said I believe that a lot depends on what BTC decides to do as many cryptos tend to follow in whatever direction BTC decides to go.
