SOLANA Close to breaking above the 1-year Channel Up.

8 dic 2023

Solana (SOLUSD) made a bulls eye on our $65.00 July 27 target (see chart below) and is now attempting a critical break-out:

More specifically is it the second time it makes a marginal breach at the top (Higher Highs trend-line) of the 1-year Channel Up. The 1D MA50 (blue trend-line) has been in absolute Support during October - November's parabolic run. Technically if SOL does close the candle above the Channel Up, it opens the way for a 144.00 Resistance 1 (April 02 2022 High) test, as long as the 1D MA100 (green trend-line) supports.

However it has to pointed out that this is the first time on a Channel Up top that the 1D RSI's Lower Highs are flashing a Bearish Divergence. DUring the other two tops, it was alighed with the Lower Highs of the price.

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