Solana Poised For Triple Digits, Support Set At $80

Since reaching an all-time high of $259.90 on November 6, Solana has been declining. It has been following a declining resistance line throughout the decline, which was most recently validated on March 2. Solana Bulls May Push Price Above $100 So far, the price has dropped to $75.35 on February 2. The subsequent bounce confirmed the $73 area as support. This is a horizontal support area as well as the 0.786 Fib retracement support level. SOL is currently trading at a 66% decrease from its all-time high. Solana’s price is on the verge of completing one of the most significant percentage decreases since its all-time high in November 2021. A descending triangle pattern may be seen in the price activity of Solana (SOL). The altcoin reversed course from the falling trendline ($105) on March 2nd, plunging to the $80 neckline. For more over a month, the purchasers have firmly guarded this support, preventing the sellers from extending any further losses. SOL/USD will hit support at $80. Source: TradingView With an evening star pattern, the altcoin jumps off its $80 support today, letting traders to build up another comeback. Furthermore, when the coin price approaches the top of the bearish pattern, a significant breakout may be imminent. If Solana is to avoid a further value decline, it must rise to the $102 level. To reach to this level, it must first break through the 50% Fibonacci retracement at $92 and then close above $10...