stolen the crypto spotlight after it has entered the pricing mode.
The central theses
- Solana has reached a new all -time high with $ 146.38.
- Despite the latest milestone, an increase in profit treatment seems to be right.
- sales pressure could press Sol to $ 117.05 or lower.
Solana seems to approach exhaustion. A trading indicator of the Wall Street class indicates that a one to four-day candlestick correction can occur before the SOL continues to rise.
Solana flashes sales signal
Solana continues without looking back. The seventh largest cryptocurrency after market capitalization has gained almost 31.50 points to market value in the last 24 hours and has achieved a new all -time high of $ 146.38.
From a technical point of view, the latest interest bully impulse seems to have its origin after Solana broke out of a symmetrical triangle on his 4-hour chart. The height of the y-axis of the pattern is added to the outbreak point, which indicates an upswing of 24.70 %.
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After the goal has now been reached, Sol could head to a withdrawal.
The Tom Demark (TD) sequential indicator presented a sales signal on the daily chart of Solana. The bear formation developed as a green nine candle. An increase in profit from the current price level could help confirm the pessimistic outlook, which would lead to a one to four-day candletting correction before the upward trend is resumed.
The Fibonacci retracement indicator, measured from the low of July 20 from USD 22.10 to the latest all-time high of $ 146.38, indicates several price levels that can serve as support in the event of a correction. If sales orders are increasing, Solana could fall towards $ 117.05, $ 98.91 or even $ 84.24.
It is worth noting that since Solana has entered pricing mode, a decisive daily candlestick closure over $ 146.38 could put the bear's thesis on hold. Under such unique circumstances, Solana could strive for a new all -time high of $ 180.
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