What is the next target price for SOL? Resistance levels intersect here
Solana is moving towards the designated orange target area ($160 to $188).
After establishing a bottom in the support area around $96, Solana entered a strong rebound phase. The quick breakout of the red downward trend line sent out the first strong bullish signal. According to the analyzed scenario, a V-shaped recovery occurred, with an increase of over 50%.
Solana is currently approaching a strong resistance area between $170 and $188, where key Fibonacci levels and significant resistance intersect, marking the first major decision for price direction.
Currently, Solana's trading price is around $147. Over the past month, the price of SOL has dropped to just below $100.
Will SOL encounter resistance in the target area, or will it experience a sustained trend reversal, creating higher highs and lows?
If you have specific questions you'd like to know, feel free to call me
