CandleFocus Solana (SOL) Price Pattern Points to Brief Dip, $260 Target Next
2024-11-20
Author: Content Editor
The price of Solana (SOL) has formed a rising wedge pattern on the 4-hour chart, indicating a potential reversal of its upward trend. If the price breaks below the lower trendline of the pattern, it could lead to a significant decline in value. The Money Flow Index (MFI) also supports a bearish outlook, as it is showing a downward trend. Additionally, the Fibonacci retracement indicator suggests a potential pullback point at $205.12. However, if SOL breaks above the upper trendline of the rising wedge, it could rise above $260 and reach a new all-time high.
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