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Solana prices form the foundation for a 15% rally in SOL
The price of solana has returned above the $115.5 to $144.7 demand range, indicating an optimistic outlook.
SOL consolidates above this level in anticipation of the 15% increase to $174.3.
A four-hour candlestick closure below the $115.5 level will result in a lower low, rendering the bullish thesis useless.
Solana’s price has been hanging on the edge of a critical support level, poised for a major run-up. The volatility squeeze suggests that SOL’s rise will be brief. The impediments are well delineated, indicating a firm barrier.
The price of Solana is about to rise
Since January 7, the price of solana has three times rebounded off the weekly support level of $135.7. The most recent testing of this barrier, on January 11, resulted in a 17 percent increase. The advance failed to hold, resulting in a retest of the daily demand zone, which ranged from $115.5 to $144.7.
Consolidation appears to be in place as SOL retests the previously indicated barrier, indicating a lack of volatility. As a result, the subsequent rise will most likely be a rapid, enormous upsurge that retests the weekly resistance level at $174.3, which is located within the daily supply zone, which extends from $169.7 to $179.1
