CandleFocus Strong Buy Signal for Solana (SOL), Here’s What Expert Says
2024-09-06
Author: Content Editor
A crypto expert believes that Solana (SOL) is showing a buy signal amidst the bearish market sentiment. The expert points to the TD Sequential indicator, which has presented a buy signal for SOL on the daily time frame. Additionally, the Relative Strength Index (RSI) has formed a bullish divergence, indicating a strong trend reversal from a downtrend to an uptrend. With SOL currently consolidating in a parallel channel pattern and the price at a lower boundary, the expert predicts that SOL's price could potentially surge to $154 and $187 in the near future. CoinGlass's SOL OI-Weighted Funding Rate also supports the bullish outlook. However, at the moment, SOL is trading around $129.5 with a decrease of over 3.5% in the past 24 hours. Despite the price drop, trading volume has increased, suggesting higher investor and trader participation.
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