SOL/USDT Technical Analysis
Solana has formed an ascending chart pattern since the end of 2023. Looking at this pattern, we see a wide rising channel formation, in the middle of which the price accumulates.
$182–$190 is a strong resistance zone which has been tested twice so far, and from there, the price pulled back to the support level of $142. If the price stays above this level, then we can say that this is a healthy pullback action. Yet, if there comes a daily closure below $136, the price might go down to the levels of $122 and $105, and we have the trend support level of $100.
If the price goes up, the target may be the area around $190 and then $218, which is the trend resistance level up.
These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to market conditions. However, the responsibility for making transactions and risk management belongs entirely to the user. In addition, it is strongly recommended to use stop-loss (SL) in relation to shared transactions.
