Solana, Ethereum killer, shows signs of strong return. After weeks of volatile price movement and a sharp decline, Sol PRICE recovered impressive from a $ 124 region and is now trading about $ 135 to $ 138. This apostasy comes at a time when the broader encryption market is struggling with uncertainty, which makes Solana flexibility more merit.
But what provides this recovery? Is it just a technical apostasy, or is there a stronger basic powers in playing, such as ETF speculation and institutional adoption?
Return and recovery recently: What has just happened?
Solana witnessed a sharp decrease to less than the support level of $ 130 last week, with a short period of $ 124. This step caused a state of panic among short-term holders, but it turned out that it was sweeping classic liquidity-getting rid of weak hands before recovery. The bounce was fast and decisive, as Sol recovered $ 135 within days. This type of V -shaped recovery is often observed when there is a strong basic demand, which appears to be the case here.
Prediction at Solana’s price: Where will Seoul then puff after that?
The Sol price maintains a sharp drop, but still remains in a bullish style. The distinctive symbol of the low support for the symmetrical parallel channel has recovered, which hinted at the continued rise towards the resistance. But the question arises, is the price of the Sol over the central resistance at $ 142?
As shown in the graph above, the Sol price tries to rise to the neckline in the cup style and the handle. The collapse of the range is expected to raise the levels towards altitudes exceeding $ 220 at first and after more than $ 250. Since RSI has shown a bullish difference, it is expected that the price will rise more than $ 142 and reach the resistance of about $ 155. Otherwise, the handle can be extended, which may turn into a decreased direction.
However, this appears to be unlikely, as the price is one inch of the psychological barrier at $ 140. Therefore, if the basics continue to improve, it is expected that the Solana (SOL) will reconsider $ 300 in the next upward wave.
