Solana (SOL) could be presenting a potential buying opportunity for investors, as chart patterns hint at a possible bullish momentum in the coming months.
Cryptocurrency trading expert Trading Shot has identified this opportunity in a TradingView analysis posted on September 4.
In presenting this opportunity, Trading Shot referenced an analysis shared three months ago, which cautioned against buying SOL until the decentralized finance (DeFi) token tested the 50-week moving average (1W MA50).
Notably, this projection has been realized, with the token rebounding to hit the mark early this month. However, Solana’s recent price drop has put this thesis in a precarious position.
The expert pointed out that attention has now shifted to whether the token can sustain its price above the 1W MA50. Failure to do so could lead SOL to plunge to the 200-week moving average (1W MA200), a crucial level for the survival of the bull cycle.
SOL price analysis chart. Source: TradingView/Tra
We współpracy z: https://finbold.com/opportunity-this-solana-sol-indicator-calling-for-850-target/
