2024-9-28 22:30 |
SwallowPremium discusses the imminent breakout for Solana (SOL) as it nears the final phase of its triangle pattern. He pointed this out in a post on TradingView as he tried to determine the next price direction of Solana.
He outlines two potential scenarios that could unfold:
Potential 26% Upside Move:
SwallowPremium notes that the price is approaching the upper resistance zone while staying above the EMAs. He highlights that if a breakout occurs, it will be crucial to monitor a re-test of the broken zone.
Should this re-test prove successful, it could trigger a robust upward movement.
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Potential 30% Downside Move:
Conversely, he warns that if the price encounters rejection at the upper resistance or if the breakout fails, attention will shift to the support zone. A breakdown below this support, followed by a successful re-test, could result in a significant downward decline.
Through this analysis, SwallowPremium provides a clear view of the critical levels to watch as Solana approaches this pivotal moment.
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The post Here Are Two Possible Scenarios for Solana (SOL) Price as Major Breakout Approaches appeared first on CaptainAltcoin.
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