The past 24 hours have not been smooth for altcoins, and the exit of spot Bitcoin ETFs is a reminder that we don't see billions of dollars accumulating every day. The expected correction came without delay, and Bitcoin fell below $52,000. At the time of writing, it is still hovering around $51,000, below the key area. According to its support level, altcoins have also seen a considerable **.
solana
Since falling to $79 in January, SOL has been on the radar. Bitcoin's has also affected it, falling back to the $100 level in the last 24 hours and has now found a buyer at $104. Whenever Bitcoin comes along, this popular altcoin is very strong, supported by the hype in the network.
The $100 level has long been a key area for corrections. As long as we stay above this resistance area, we should see the potential continue. The RSI on the weekly chart shows that the bull market is still dominant.
SOL has been trading within a symmetrical triangle since its peak on December 25, 2023, a neutral pattern that warns of an imminent breakout.
Investors on the sidelines have finally seized the opportunity. SOLing around $100 seems like the right choice, and I think it's a good option for those who are considering buying for the long term. SOL Coin is currently a good level for those considering long-term purchases.
SOL indicates that it is sorting out for another round. The most likely count shows that SOL is in the middle of a third wave of five waves** with a target of $145.
While the wave count at the new highs looks promising, a downward breakout from the symmetrical triangle could pull SOL Coin** back to $69. This will be a potential extreme target for SOL in the coming weeks. Solana Solana public chain
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