CandleFocus Solana Eyes $200 Breakout: Is a Parabolic Run to $263 Imminent?
2024-12-25
Author: Content Editor
Solana's market price has increased by 2.17% in the last 24 hours, signaling potential for a new breakout rally. The 4-hour chart shows a descending broadening wedge pattern, indicating a potential bullish reversal. A breakout above the neckline near $198 could trigger a parabolic rally, with targets at $215 and potentially $263 by January 2025. The Fibonacci levels suggest a new all-time high target at $286.85. However, if the bullish rally fails, Solana may retest the 20-EMA line at $192.58.
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