Solana- The next obvious target is 80

19 בנוב׳ 2023

In the past two months, I have twice drawn attention to Solana and advised traders to pay close attention to it. The first instance was in September, when a falling wedge pattern was unfolding and seemed ready for an upward breakout. The second was after the breakout and a correction back to 20. Since the end of this second correction, Solana (SOLD/USDT) has surged, exceeding my initial target of 40 by more than 300% from the bottom to the top of this upward leg.

This leads to an obvious question: Does Solana have more potential for growth? I believe the answer is YES, and my next target is 80. Technically speaking, after breaking out of a small triangle and experiencing the last upward leg, Solana began to correct, but dips are being actively bought. I will remain bullish as long as the price stays above the 45-50 zone. I'm looking to buy within this range, aiming for a favorable risk-reward ratio with 80 as the target.