Solana $SOL is starting a new appreciation cycle, but this is just the beginning. We can notice on the daily chart (1D) the formation of new rising peaks and rising bottoms.
On the hourly chart (1H), we can see that we have just reached the oversold level (30) on the Relative Strength Index (RSI) indicator, indicating that we have found our rising bottom on the daily chart (1D).
However, we are only in the early stages of this new cycle. On the weekly chart (1W), the formation of a pattern known as "Cup and Handle" is evident, and we are close to breaking resistance at the mouth of the cup. This pattern usually results in a significant appreciation of the asset, and as it is forming on Solana's weekly chart, we can expect a significant appreciation of this asset.
