Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.The range formation gives out a clear game plan for buyers and sellerhas recovered remarkably from the losses it posted in November and December, especially for a multibillion-dollar market-cap asset. Further gains are likely, especially based on the higher timeframe trend.
Solana traded within a range between $20.4 and $26.6, with the mid-point at $23.5 since mid-January. Above $26.6, $30.7 is the next major resistance level. However, the $26-$27 region itself presents a significant zone of resistance. A session close above $27 and a retest of the $26 belt would flip this bias. In that case, buyers can long a breakout and use $30.7, $33, and $37.3 to take profits at.