Additionally, he said, for SOL’s advance to be fully absorbed, it must close the week above $202.$SOL Solana didn’t wait for the Weekly Close and just broke out straight to $202 resistance (red) The multi-month Downtrend is over (blue) And Solana is a Weekly Close above $202 (red) away from kickstarting a rally into $200+#Solana #SOL #BTC pic.twitter.com/1T9XVPQyQO — Rekt Capital (@rektcapital) November 8, 2024 Related Reading: SEC Shake-Up: Robinhood Legal Boss On Shortlist For Top Spot—Report Technical Indicators Reinforce Bullish Sentiment Several technical indicators are still confirming the positive tone, which prevails in Solana.
Related Reading: Bitcoin Open Interest Soars As Top Crypto Breaks $76,000 – Details #Altcoins #SOL at $200 and Breaking Out! 💥 A MASSIVE Bull Flag is unfolding on #Solana.🚀 Target: $1,400 🎯 pic.twitter.com/eQyYyn33cm — Titan of Crypto (@Washigorira) November 8, 2024 However, other analysts recognize a “Bull Flag” pattern in the weekly chart of Solana.
Both the 50-day and 100-day Exponential Moving Averages are below the current price, displaying consistent upward movement with strong support in the last retracements, while the bullish crossover provides more significant reasons to continue the short-term up the medium-run channel.
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