Chart of the day

Where do we stand fundamentally?

Solana attracted a strong demand from institutional investors along with retail investors and has seen a big price increase this year. It is now among the most popular crypto instruments and that should keep the demand strong and will lift the price.

Solana is retesting again the strong support for the upside continuation 137.50. We are still in the fourth upside wave pullback and a break above the 187 will lead to a continuation higher to reach the historical high.

An invalidation level of a fifth wave long-term extension higher and a bullish cycle is 80. As said this extension higher could lead to 260 target in the medium-term to long-term if we get a confirmed break above 187.

_{Try a long trade entry with a stop loss below 100 to target 260 and higher.}