Reviving Momentum: Is $SOLANA Poised for a Breakout?
2024-10-20

There seems to be some life returning to $SOLANA. I’m glad it held the $134 zone and has finally broken above the weekly block, even if just slightly. We want to see it move much higher towards the 2022 open to have a chance at new highs.

For now, it’s still "trying" to escape the consolidation phase from August but needs to move away from this 9-month range.

A final leg towards new highs could reignite the meme sector. I’ve mentioned buying betas like  NASDAQ:RAY ,  LSE:JUP , and  CRYPTOCAP:JTO , as these are likely to outperform $SOLANA, so keep an open mind about the level of risk to take.

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The weekly chart is showing a weak but at least a bullish signal for the first time since May 2024.
 
This is not a bad spot to add a "little" exposure and continue to accumulate on dips.