Solana cryptocurrency can be expected to rise further toward the next resistance level 108.70 (which stopped the previous correction (B) last week).
- Solana reversed from round support level 100.00
- Likely to rise to resistance level 108.70
Solana cryptocurrency recently reversed up from the support zone between the round support level 100.00 (which has been reversing the price from the end of August, as can be seen from the daily Solana chart below) and the lower daily Bollinger Band. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Hammer, which stopped the earlier impulse wave 1 – that belongs to the intermediate impulse wave (C) of the primary correction 4 from the end of September.
Given the strength of the round support level 100.00 and the neutral crypto sentiment seen today despite the recent outflows from US spot Solana ETFs, Solana cryptocurrency can be expected to rise further toward the next resistance level 108.70 (which stopped the previous correction (B) last week).
The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.
The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.
