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SOL – Daily chart
Solana reached an all-time high in November last year, just below US$260. From thereon, it dropped with the rest of the crypto market, finding a low last month of US$76.
However, the price has been recovering, and it is currently trading just above US$120.
There is resistance ahead at US$130 and also US$150. The 0.618 Fibonacci retracement between November’s high and February’s low sits at US$189, which will also be acting as resistance on the way up.
There has been some positive news coming out of the market around Solana over the last couple of days, which could be a catalyst for positive price action over the next couple of weeks.
Check out yesterday’s article on the Crypto Banter website about the range of exciting updates coming to the chain.
You can find all of Sheldon’s entries, take-profit zones, key support and resistance areas by signing up to CoinPanel, where over 30 unique charts are regularly updated with all the key levels to watch out for.