CandleFocus What to Expect Next in Solana? Analyst Assessed
2024-12-24
Author: Content Editor
Renowned cryptocurrency analyst, Omkar Godbolev, has identified a "bullish regression" pattern on the price chart of Solana (SOL). The price of SOL has increased by over 7% this week to $193, rebounding from a key trendline support level. The trendline connects the highs and lows of certain periods, creating a descending channel, which SOL broke out of earlier this month, confirming its bullish trend. The rebound from the breakout level has reaffirmed support and signaled renewed bullish momentum. However, analysts caution that the pattern's success relies on SOL maintaining support at the breakout level.
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