Solana's BTC price pair is nearing a bullish breakout, with the potential for a surge in value. The SOL/BTC pair has been consolidating within a symmetrical triangle since March, but is now attempting to rally past the upper resistance line. Positive indicators, such as the Balance of Power and Relative Strength Index, suggest that this breakout is likely. If successful, SOL could reach multi-month highs and potentially trade above $200 for the first time in seven months. However, if Bitcoin gains strength against Solana, the breakout may fail and the pair could continue trending within a descending triangle.
- Content Editor ( beincrypto.com )
- 2024-10-01
SOL/BTC Pair Approaches Breakout, Targets Multi-Month Highs