In my previous analysis, I showed that SOL was in a rising wedge and from there It could break to any side. And yeah It did it to the downside. Here you can check the post,. We will talk about what next after that.
![[Solana]Either $30 or $18.5 from here](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
At this time, we can see that SOL has break the important resistance here. At past,, It failed to break this zone 3 times actually got strong resistance. So now we have to wait and see if SOL can catch this zone as a support or not.
If so then we can see another rally which will stop at $27
But If SOL fail to catch the zone then we have to come back to the $23.5 level which is the Point of Control for Solana as you can see in the horizontal volume profile. If it can catch it then we might see $27 or even $30 from there.
But if SOL hold $25 zone as support and reach $27 then It might come down to $25 or $23.5 again for some correction.
![[Solana]Either $30 or $18.5 from here](https://s3.tradingview.com/i/icjrMvlp_big.png)
If so then we can see another rally which will stop at $27
But If SOL fail to catch the zone then we have to come back to the $23.5 level which is the Point of Control for Solana as you can see in the horizontal volume profile. If it can catch it then we might see $27 or even $30 from there.
But if SOL hold $25 zone as support and reach $27 then It might come down to $25 or $23.5 again for some correction.
