CandleFocus Analyst Says Solana Bull Flag Could Lead to 400% Gains, Targeting $829
2024-10-30
Author: Content Editor
Solana (SOL) recently reached its highest level in three months, surpassing $180, but has since retraced back to the $170 region. Despite this retracement, Solana is still showing a 14% gain in its monthly performance and positive market sentiment. An analyst named Xanrox has observed a bullish flag pattern forming in Solana's price movement, suggesting further upward momentum. From an Elliott Wave perspective, Xanrox believes there is potential for a 100% to 400% gain by the end of the year. The initial target is set at $383.39, with a more ambitious target of $829.17. However, caution is advised as technical indicators such as the RSI and Stochastic Oscillator show overbought conditions, indicating a possible price correction. Despite this caution, Solana remains overall bullish.
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