English
54847
Solana's (SOL) SuperTrend indicator has given off a bullish signal, suggesting that a sharp move higher may be in store. But before the price launches, SOL may fall back to $220.  Solana (SOL)’s SuperTrend indicator issued a “buy” signal on its weekly chart, a historic event that typically signals an explosive price move. Past signals have brought SOL gains of 620%-3,200%Solana's weekly chart shows that the SuperTrend indicator turned from red to green last week and was below the price, giving a bullish signal. This indicator is similar to a moving average and is superimposed on the chart to track SOL price trends by incorporating average true range (ATR) to help traders identify market direction. During the 2021 bull market, after the previous confirmation of the indicator, SOL ushered in a sharp increase of 3,200% and 620% respectively, as shown in the figure below. The last time SuperTrend issued a "buy" signal was in July 2023, and SOL subsequently surged 1,339% from just above $20 to hit an all-time high on January 19, breaking above $295. According to an article by analyst Dorkchicken on the X platform last week, SuperTrend will flip to green/buy if $SOL can close above $220.45. He added: “The last time was in 2023, the price increased from $39 to $294. ” When SOL broke above $220 on Wednesday, the SuperTrend indicator had turned from red to green and was trading below the price. If history repeats itself, SOL could be poised for significant gains, as high as $1,000, a move that would benefit from increased demand from ecosystem pools and the possibility of approval of the U.S. Spot Solana ETF. Solana price temporarily stalled at $250Since its low of $155 on August 2, Solana has gained 60%. However, it encountered resistance at $250, mainly due to profit-taking and weakening buying orders in the market. According to analyst Crypto Seth’s post on the X platform on Sunday: “$SOL is approaching the first resistance area. ”The price at the time was nearly $250. “We'll see how big the pullback is. ” On the daily chart, the relative strength index rose to 70, and on the four-hour period it was as high as 83, indicating that the market is overbought. Affected by this, SOL has retreated 7% from its eight-month high of $250 on Sunday and is currently hovering around $237. As shown in the chart below, price action has formed a descending parallel channel on the four-hour chart. The important support areas for SOL are located in the demand range of $230 and $227, which correspond to the lower edge of the channel and the 50-period SMA respectively. If it falls below this range, the price may drop to $220 before trying to rebound. Despite the current pullback, many analysts remain optimistic that Solana will continue to rise to $300 and above. According to Cipher X’s post on the X platform on Monday: “$SOL has shown strong momentum. ”He added that the 9-week EMA crossed above the 15-week EMA, confirming the upward trend. “The next liquidity objective is near $300, where buyers could push for a breakout. ” According to Cointelegraph, if the resistance zone of $250-260 is exceeded, the next important resistance will be at $295, at which time the increase in futures open interest and total locked positions will become the main driving force. Official website | https://ccrcb.cc/ Hotline | 18922117055 WeChat | bosen010 Guangzhou Bolasem Technology Co., Ltd., referred to as "Bosen Technology", is one of the first high-tech innovative enterprises in China to engage in the research and development of intelligent quantitative robots. It is based on big data research on quantitative technology, combined with the implementation of automatic quantification software, to avoid the emotional and time and energy costs of manual operations. Based on the results of data analysis, the analysis team formulates quantitative models and develops intelligent quantification systems to provide professional, convenient and intelligent investment products and services to millions of investors. About us / about us    historical data / history  |
|
|
|
|
|
