Solana's $210 Target Has Arrived! So When?

#solana (SOL) has once again attracted investors’ attention with its megaphone formation, which is frequently seen in technical analysis. This structure, which indicates expanding volatility on the charts, could be a sign of a strong price breakout.

The $SOL price, which started the week fast, tested the strong resistance at $ 180. However, it has not been able to achieve a permanent rise above this level so far.

Despite this, the price continues to consolidate above $ 170 in recent days.

The 5.65% mini correction since May 14 may be a breathing space for investors.

The megaphone (expanding triangle) formation formed during these movements shows that the price is increasingly fluctuating in a wider band.

The upper trend line of the formation is at $ 185.

If this area is broken with volume, the technical target is determined as $ 210.

The formation's potential target, $210, indicates an increase of approximately 21% from current levels.

At the same time, breaking the $200 psychological barrier could create an additional wave of buying among investors.

However, it should not be forgotten:

Megaphone formations do not always result in an increase.

If the $180 resistance cannot be broken once again, the price may fall to $161 (100 EMA) or the $150 support below.

Volume confirmation is critical here. A breakout with weak volume increases the risk of a "fake-out". In other words, the probability of a change in direction is high.

⚠️ Note: My posts are not investment advice. There may be errors due to translation. Please do your own review. You can also write your thoughts in the comments section.

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