Solana

With the news of Grayscale creating a SOL ETF to give investors exposure to Solana, we can see price start to rise and break out of a short term down trend.

Visually speaking, it has created 1 half of an extended W, which is the pattern I believe is forming. In addition to this, we can also see a flag formation being created. Before these patterns came to fruition, we can also see a head & shoulders which was rejected at the base - bullish.

Once we can have a daily close above the 0% line, in my opinion it is then free game to buy above that level, NFA.

My previous SOL analysis is linked.

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Prev. Analysis

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H/S -

Usually the first line of resistance is the shoulder nearest, and then the head. We can likely expect a pullback to the 0 Line to complete the myriad of structures formed.


Triangle Pattern (also used in BTC analysis linked)

BTC-

Break & Retest