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SOL analysis – the price can at any time end the long-term bullish flag

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SOL continues in bull flag and the market price is exactly within the resistance zone of this pattern. This pattern can break through and continue at any moment long-term growth. In the short term, the price is still creating rising lows even maxima. Where are the other targets?

The current growing leg is so far the most stable in the entire bull flag. If the price manages to overcome the resistance of the flag, the next bull target will be level $ 215. After the disruption, the previous resistance may be tested later as new support. Even if the price did not overcome the resistance of the flag immediately, the price would probably create a higher long-term minimum.

SOL / USD 4HSOL / USD 4H. Source: TradingView

SOL directly on the main resistance

If the price does not exceed resistance, the nearest support is located at about $ 190, where the point of control is located and the price has tested support here several times in the past. In this scenario, the price may also go sideway below the resistance, which sooner or later will overcome anyway. Still valid that the flag terminates bull leg.

RSI indicates the breakdown of resistance, but still is not in the overbought zone and therefore in the short term there is room for a continuing growing trend. Volumes should increase during the transfer, but this is not yet the case. Bullish prospects do not change for SOL and targets are at levels $ 215 and $ 240.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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