SOL’s price movement shows bullish potential despite a delay from the SEC regarding Fidelity Investments' proposed Solana ETF. The recent chart analysis indicates a narrowing trading range, suggesting an imminent price breakout. Although SOL faced resistance around the 50-day simple moving average at $154, bulls are keen to maintain support above the 20-day exponential moving average at $149. A breakout above $159 could lead to price targets of $168 and $185. Conversely, a dip below $144 may indicate a loss of bullish momentum, potentially leading prices down to $130. Furthermore, a bearish descending triangle pattern has formed, but buyers are attempting to invalidate this by pushing prices above the downtrend line. Successful movement beyond $159 could confirm an inverse head-and-shoulders pattern, prompting a rally toward $192. Investors are advised to conduct thorough research due to the inherent risks of trading.

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