SOLANA → Consolidation before the rally continues
2024-12-05

BINANCE:SOLUSDT  is consolidating after a strong rally. This is a generally positive sign for continued growth as the altcoin season is in full swing. It may take some time to overcome the previous ATH

  

Within the current move, Solana updates the ATH and forms a false breakout, which closes the coin in a channel, but not for long. A consolidation of 265 - 221 is forming within a strong bull market. The coin has several drivers: Trump, favorable background of his policies, talks about the fund, bullish BTC, which is already testing 105K and so on.... 
Technically, until the consolidation is over the movement will not continue. the trigger for continued growth could be the area of 250 - 265. The breakout and holding of the defense by the bulls above these zones could be good signals for further rally, as above 265 is empty and there is no resistance

 Support levels: 222, 205
Resistance levels: 239.6, 245.3, 264.4 

I do not exclude the fact that a false break of support may be formed, but the market is generally bullish. accordingly, the current situation can be viewed from several angles: buy on a pullback or buy after a break of resistance with the aim of further growth

 Rate, share your opinion and questions, let's discuss what's going on with ★  BINANCE:SOLUSDT  ;) 

Regards R. Linda!