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Solana Price Prediction - After a Strong Correction Now the Upswing?



In our last Solana price forecast , we were still bullish on the chart. The reason for this was the bull flag that the Solana course had performed. However, the bull flag breakout turned out to be a fake breakout. A short time later, the course returned to the bull flag. We have now reached the September 2021 low, causing the bull flag to be invalid. But how could the Solana course continue in the near future? Will we soon experience a new upswing? We'll enlighten you!


Solana price has corrected to the support zone. This is between $127.5 and $133. We have found strong support in this area in the past, so it is important that we do not break this support lower. The price was able to form a trend line during the correction. As long as this trendline is active we are in a downtrend. If we break this we could enter an uptrend. We expect the Solana price to rally towards the $173 resistance in the short term. Then there could be a sell off to $153. After that, the price could already break the trend line and develop an uptrend in the short term. In our view, the target for a breakout is around $190. We could also reach $200 as this is a psychological level.


The Solana price has formed a possible head-and-shoulders formation over the past few weeks and months. This formation is a top formation (signals the top) and often leads to trend reversals. If the price moves as we expect and rallies to around $190, we would form the right shoulder of the formation. If the price continues the overall downtrend, the formation would become more relevant, which is why we will then be more likely to see a breakout. Once the Solana price crosses the neckline, which is located around $130, the breakout is confirmed and a descent could begin.


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