Looking at the Solana chart on the weekly we can see momentum and money flow is rising with clear curvature to the upside.
There is a wall of resistance at $27 and a clear uptrend respected nearly to the dollar 3 separate times giving a nice clear bullish rising wedge pattern.
Typically this is viewed as bullish price action and taking a measured move from out last uptrend it puts price as high $36 - $42.50 for this current swing on the weekly.
Momentum looks as though it would culminate at pretty much the same point in time the rising wedge would be complete at the end of January to beginning of February 2024.
There is a fair value gap below the current price on the weekly as low as .2075 and a second but higher gap on the daily that only goes down to .2225.
Given price is currently on the small time frames seeing a pull back, filling of one if not both of these gaps would not be unreasonable but when bullish price action returns on the smaller time frames at the bottom of one of these gaps would be an ideal entry.
Trade Well.....
There is a wall of resistance at $27 and a clear uptrend respected nearly to the dollar 3 separate times giving a nice clear bullish rising wedge pattern.
Typically this is viewed as bullish price action and taking a measured move from out last uptrend it puts price as high $36 - $42.50 for this current swing on the weekly.
Momentum looks as though it would culminate at pretty much the same point in time the rising wedge would be complete at the end of January to beginning of February 2024.
There is a fair value gap below the current price on the weekly as low as .2075 and a second but higher gap on the daily that only goes down to .2225.
Given price is currently on the small time frames seeing a pull back, filling of one if not both of these gaps would not be unreasonable but when bullish price action returns on the smaller time frames at the bottom of one of these gaps would be an ideal entry.
Trade Well.....
