Chart of the day

Where do we stand fundamentally?

Solana is focusing on its 2024 roadmap, which includes the rollout of Runtime v2 to improve network performance and developer experience. This update introduces concurrent transaction processing and integrates the Move programming language. This is aimed at enhancing scalability and efficiency in Solana’s ecosystem.

Solana is supported by the 126 level of an uptrend line for a ride to the 260 within the fifth upside short and the third long-term wave and to complete a complex consolidation in the fourth wave. We need to see a break above 180 for the upside continuation in the fifth upside wave to happen and gain traction.

An invalidation level of a third-wave long-term extension higher and a bullish cycle is 110 As said this extension higher could lead to 230 and 260 targets in the medium-term to long-term if we get a confirmed break above 180.

_{Try a long trade entry with a stop loss below 100 to target 180 and higher upon a break above this level.}