Bullish Turnaround Above $100: SOL price has reclaimed the $100 mark with a bullish turnaround this week.
4.41% Overnight Jump: There was a significant 4.41% increase in SOL price, forming a bullish engulfing candle.
Potential to Reach $125: Crossing the $102 neckline could propel SOL to reach $125 in the near future.
Trend Reversal Fuels Momentum: This week's trend reversal above the $100 mark refuels bullish momentum in SOL.
Trading Above 50D EMA: SOL sustains above the 50-day EMA, indicating a strong bullish presence.
Breakout of Multi-contact Resistance: SOL is preparing for a breakout, which could cement its bullish trend.
Inverted Head and Shoulder Pattern: A potential inverted head and shoulder pattern with a neckline at $102 suggests an upcoming breakout.
Resistance at $102: The $102 level is a significant resistance, marking a high supply zone.
Current Trading Price: SOL is trading at $100.98, hinting at another breakout attempt soon.
Technical Indicators - RSI: The RSI indicator shows a positive trend, indicating a rise in demand and potential for a breakout run.
Possibility of Rally to $200: With an anticipated breakout, SOL has the potential for a significant rally, possibly beyond $125.
Entry Point for Sideline Traders: Exceeding the $102 mark could provide an entry point for traders, with a downside risk of retesting the $82 mark.
4.41% Overnight Jump: There was a significant 4.41% increase in SOL price, forming a bullish engulfing candle.
Potential to Reach $125: Crossing the $102 neckline could propel SOL to reach $125 in the near future.
Trend Reversal Fuels Momentum: This week's trend reversal above the $100 mark refuels bullish momentum in SOL.
Trading Above 50D EMA: SOL sustains above the 50-day EMA, indicating a strong bullish presence.
Breakout of Multi-contact Resistance: SOL is preparing for a breakout, which could cement its bullish trend.
Inverted Head and Shoulder Pattern: A potential inverted head and shoulder pattern with a neckline at $102 suggests an upcoming breakout.
Resistance at $102: The $102 level is a significant resistance, marking a high supply zone.
Current Trading Price: SOL is trading at $100.98, hinting at another breakout attempt soon.
Technical Indicators - RSI: The RSI indicator shows a positive trend, indicating a rise in demand and potential for a breakout run.
Possibility of Rally to $200: With an anticipated breakout, SOL has the potential for a significant rally, possibly beyond $125.
Entry Point for Sideline Traders: Exceeding the $102 mark could provide an entry point for traders, with a downside risk of retesting the $82 mark.