Solana Is Going Parabolic Soon As Firedancer Draws Closer

WikiBit 2024-07-11 10:39

After falling below the $121 price mark last week, the Solana has shown a strong rebound. The SOL price is up 19% from the local low. But the current

Tech

Solana Is Going ‘Parabolic Soon’ As Firedancer Draws Closer

Bitcoin Ethereum News

After falling below the $121 price mark last week, the Solana has shown a strong rebound. The SOL price is up 19% from the local low. But the current setup of the Solana price suggests the potential for an even stronger upward breakout, similar to that of summer 2021, according to popular crypto analyst Daan de Rover, better known as Crypto Rover.

From the end of July 2021 to the beginning of November 2021, SOL rallied by more than 1,100%. The chart shared by Rover displays Solanas price action on a weekly timeframe, showcasing the formation of a descending triangle pattern similar to 2021.

SOL price rises above the 0.5 Fib, 1-week chart | Source: SOLUSD on TradingView.com

Disclaimer：

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

Related exchange