#SOLETFsOnTheHor Should you buy $SOL now?
$SOL has been trending 🔥 recently and with all the news about ETF launches (Grayscale recently applied to the New York Stock Exchange to launch a SOL ETF in the U.S.), you feel FOMO but are unsure of what a reasonable price to buy is 🤔. Below I perform a Fibonacci retracement analysis to provide a rough understanding of SOL's potential.
Overall, SOL is experiencing an upward trend ✨ - SOL is forming lower highs and higher lows, and is gearing up for a breakout in the short term. But when 🤔? If SOL can maintain the resistance level of 38%, which is approximately 243 USDT, SOL could break 🚀 in the week around January 31st and potentially form a new ATH, with a target of >286 USDT.
Thus, between 259 USDT (26% resistance level) and 243 USDT is reasonable 👌, while between 230 USDT (50% resistance level) and 243 USDT is a very good price to buy 😀🔥.