Let’s forget about the godfather Bitcoin for a bit, and talk about the shiny Solana (SOL). This coin has proven to be one of the most interesting digital assets in the current cycle. Will Solana continue its journey to new levels, or are there obstacles waiting for it? 🤔 In this analysis, we will use classic technical analysis tools and Gann angles to draw a clear vision about its future.
🔍 Classical technical analysis
When looking at the Solana chart, strong technical formations appear, most notably:
1️⃣ Ascending symmetrical triangle
2️⃣ Right triangle
🎯 Why do we focus on the congruent triangle?
Because it is in line with the upward trend of the currency, and is a positive indicator of the continuation of the movement.
Technical objective of the ascending symmetrical triangle:
If the upper trend line is broken, the target level is $340.
This level represents a critical area that shows the upcoming challenges for the currency.
🌀 Gann Angles Analysis
1. Weekly frame:
Using the square of 144, we find that:
144° = $242 angle level is considered a major support on the weekly frame.
To maintain the uptrend, Solana should not close a full weekly close below this level.
2. Daily frame:
Daily close above 90° = $250, and continued trading above it, gives positive momentum that may push the price towards new levels.
🎯 Goals based on Jan angles:
Angle 216° = $357 (weekly Gann square).
360° angle = $371.50 (Daily Gann Square).
360° angle = $583 (long term target for the major weekly cycle).
🤝 Combined Analysis: Technical + Gann Angles
📌 Combining classical technical analysis and Gann angles, we find that:
The most logical near-term goal is
The area between $371 and $357 will form a resistance zone with a high probability of volatility before continuing the upward trend or forming the ATH.
Conditions for the continuation of the upward trend:
1️⃣ Maintaining the $242 level (144° angle) without breaking it on the weekly frame.
2️⃣ Achieving a daily close above $250 (90° angle) to continue the upward momentum.
Long term goal:
The long-term target at 360° = $583 may be achieved if the uptrend continues, but it depends on future market indicators.
⚠️ Important notes:
The area between $371 and $357 is considered a pivotal area that needs close monitoring, with the possibility of recording fluctuations.
Achieving the objectives requires maintaining the mentioned support levels and the availability of positive market conditions.
💡 Conclusion:
“Solana is not just a cryptocurrency; it is a technical success story in the crypto world. Thanks to our technical analysis and Gann angles, we see that Solana could be in one of its best phases. With the above conditions met, we could see Solana touch new heights that will cement its status as the crypto darling. 🚀
Follow this pivotal moment; Solana may have a date with history! 🌟"
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