Technical Analysis of Daily Price Movement of Solana Cryptocurrency, Friday May 05, 2023.
May 5, 2023 9:23 am
After successfully breaking down the Ascending Broadening Wedge pattern on the daily chart, it seems that the Solana Cryptocurrency is trying to gather downward momentum by making an upward correction where the Bearish Fair Value Gap level and the Breaker Block level of 22.87 are the targets to be tested by this cryptocurrency. If the 22.87 level is strong to hold back the correction rate, then Solana has the potential to fall back down to the 19.50-18.48 area level as the main target and the 115.11 level as the next target but this scenario may become invalid if on its way to these targets suddenly Solana back to rally up and break above level 24.10.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
After successfully breaking down the Ascending Broadening Wedge pattern on the daily chart, it seems that the Solana Cryptocurrency is trying to gather downward momentum by making an upward correction where the Bearish Fair Value Gap level and the Breaker Block level of 22.87 are the targets to be tested by this cryptocurrency. If the 22.87 level is strong to hold back the correction rate, then Solana has the potential to fall back down to the 19.50-18.48 area level as the main target and the 115.11 level as the next target but this scenario may become invalid if on its way to these targets suddenly Solana back to rally up and break above level 24.10.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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