SOL/USDT: Bullish Channel Suggests Further Upside
2024-11-22

SOL is currently trading at $259.65, maintaining a strong bullish trend within an ascending channel structure. The price has successfully broken through previous consolidation zones, supported by consistent rebounds from lower channel boundaries and moving averages.

The current structure shows a pattern of breakout, consolidation, and continuation, with the price now targeting the upper boundary of the newly formed ascending channel. If SOL can maintain momentum, it could push toward $270 and higher.

Should a pullback occur, the key support zones lie at the midline of the channel around $250-$255, providing potential entry points for buyers. The bullish trend remains intact as long as SOL stays above the lower boundary of the channel near $240.

Traders should monitor the upper channel resistance for potential profit-taking or signs of consolidation before the next breakout. SOL appears poised for further gains, aligning with the broader bullish trend.