SOL – Brace for Recovery

Fundamentally, Solana is a strong project and investors love it for that but traders need to look at the technical aspect which also now indicates that Solana might make big bullish moves. This trend of higher highs and lower lows started back in September last year. The high of September 14th peaked at $216 and the next high was formed on November 06 at $260. Similarly, it should form next high above $300, following the pattern. If SOL breaks above the 50-SMA at $193, it Solana has a chance to extend to $260, the previous high.  The key support level to watch is $111, the 61.8% Fib.