Solana cryptocurrency can be expected to rise to the next resistance level 130.00, the breakout of which can lead to further gains toward the next resistance level 145.20 (which stopped previous waves iv and 1).
- Solana reversed from key support level 120.00
- Likely to rise to resistance level 20
Solana cryptocurrency recently reversed from the support area between the key support level 120.00 (former monthly low from the middle of December, as can be seen from the daily Solana chart below) and the lower daily Bollinger Band. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing, which started the active short-term impulse wave 3, which belongs to the intermediate impulse wave (3) from the middle of December.
Given the strength of the aforementioned support level 120.00, strongly bullish sentiment seen across the cryptocurrency markets today, Solana cryptocurrency can be expected to rise to the next resistance level 130.00, the breakout of which can lead to further gains toward the next resistance level 145.20 (which stopped previous waves iv and 1).
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