28.03.202214:51 Forex Analysis & Reviews: Update on our bullish view on Solana.

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Solana continues making higher highs and higher lows. Price recently broke out of a wedge pattern providing a bullish signal. That signal was given when price was around $91 and price is now around $108. Since then our first target was at the start of the wedge pattern at $117-$118 area.

The decline from $259 is most probably over. There are increased chances of Solana starting at least a major bounce. First target is the 23.8% retracement but we should not also rule out the 38% level at $144. I expect Solana to continue higher. On a daily basis the RSI has still not reached overbought levels. We might see a pull back to form a higher low, but overall we remain bullish Solana.

Alexandros Yfantis
Analytical expert of InstaForex
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