Solana (left) has been a remarkable formation in technical analysis in recent days. Analysts say that popular Altcoin has developed a powerful “Cup-Authority” model. If this model is confirmed, the left price can rise to $ 3,800 with a paraboolic rally.
The “Cup-And Handle” formation in Solana points to a big leap
Technical Analyst Ali Martinez announced that the solana price constitutes a classic “Cup-And Handle” formation. This model is first complemented by a round foot movement (Cup) and then a short consolidation. If the left breaks the level of resistance at the top point of this model, a strong rise movement may begin.
This formation is a technical signal that usually points to large rise. According to Martinez, the solea price may rise up to $ 3,800 after completing this model. However, in order to realize this rise, the price needs to exceed certain levels of resistance.
Hidden bull deviation (Hidden Bull Divergence) foresees strong recovery
Another technical analyst Javon Marx detected a hidden bull deviation (Hidden Bull Divergence) in Solana price. This model occurs when the RSI indicator makes higher bottoms as the price goes down to lower bottom levels. This indicates that the procurement pressure increases and gives a potential recovery signal.
According to Marx, the solea price can reach $ 270 with this rise wave. If the price can exceed $ 233.8, the SOL can rise up to $ 457.97. This goal represents a 252 %increase in existing levels.
Are Solana investors ready for a strong bull run?
According to the latest analyzes we have made as Kriptokoin.com, Solana increased by 8 %in the last 24 hours and reached $ 132. Altcoin’s market value rose to $ 67.28 billion, while the transaction volume reached 3 billion dollars. This shows that investors’ interest in the left has increased.
If solana manages to break the current levels of resistance, a new bull run may start. However, investors need to closely follow $ 233.8 and 270 dollars. Exceeding these critical levels in the coming days will be the most important factor to determine the direction of the left. The coming weeks will show whether Solana will start a really big rally. Investors should closely monitor these critical levels.
