As of March 26, SOL is buying and selling round $143.85, having efficiently breached the wedge’s higher trendline on March 19 and sustained positive factors within the days following.
The breakout has opened the door to a possible rally towards $235, a stage projected by including the wedge’s most peak to the breakout level. This is able to mark a 65% enhance from present ranges, assuming bullish momentum continues.
Supporting the bullish case, Solana’s Relative Energy Index (RSI) has climbed above 50, indicating rising shopping for strain.
Nevertheless, the worth is now approaching resistance on the 50-day exponential shifting common (EMA), presently close to $154. A confirmed breakout above this EMA would additional strengthen the upward outlook.
If SOL fails to clear the EMA resistance and reverses decrease, it dangers invalidating the bullish setup and returning to the wedge’s earlier vary. Till then, the construction stays favorable for a continuation transfer to the upside.
