$SOL ๐ Solana Ignites Again โ Is the Price on Its Way to $172?
Solana (SOL) has recorded strong gains of 4.3% this week, regaining momentum after bouncing back from the $126 level, and is currently trading at $147.12.
๐น Key Positive Technical Signals:
โ Strong breakout of the symmetrical triangle pattern at $144.02
โ Golden crossover between EMA-9 and EMA-21
โ Positive MACD crossover with a bullish engulfing candle
โ Recording higher lows since $140.28
โ Overcoming the 50 Exponential Moving Average (EMA-50) at $143.22
๐ฏ Expected Targets if Momentum Continues:
First Target: $150.54
Second Target: $154.43
Extended Target: $172.51 (+17.2%)
๐ก๏ธ Suggested Trading Strategy:
Entry: Buy on a break above $147.50 with confirmation of high trading volumes
Stop Loss: Below $144.00
Alternative: Wait for a correction to $144.00-$145.00, then enter after confirming stability
๐ฌ Analysts anticipate continued upward movement supported by buyers' dominance and increased speculative appetite on the Binance platform, provided it stays above $140.28 and liquidity continues.
