Solana’s (SOLPrice is attempting to break out of the bullish pattern that has made it possible for the price to reach a target three-weeks high.
Altcoins could also reach their target as the market recovers.
Solana is a good investment
Solana is gaining in value, which means that the chance of attracting new users to the altcoin increases. SOL is currently recovering from negative to positive risk rewards.
The Sharpe Ratio moving into the zone of positive values above the zero-line is a good indicator. Solana is a good investment.. The altcoin’s exceptional market reputation could attract investors and newcomers.
![Solana Sharpe Ratio.](https://beincrypto.com/wp-content/uploads/2024/04/Screenshot-2024-04-23-173654-850x444.png.webp)
Click Here to Read More The Step-by-Step Guide to Buying Solana Meme Coins
Second, the broad market signals are turning positive. The Relative Strength Index is a measure of relative strength.RSIThe same is true for ), which persists in the bullish area above the neutral level, denoted at 50.0.
Relative Strength Index is a momentum indicator that measures price changes and their speed. RSI values are 0 to 100. Levels above 70 indicate overbought situations, and below 30 indicate oversold ones.
![Solana Sharpe Ratio.](https://beincrypto.com/wp-content/uploads/2024/04/b8y3JLyS-850x380.png.webp)
Altcoins are not yet overbought. SOL still has room for growth.
SOL Price Forecast: Check it Out
Solana is currently trading for $154 At the time this article was written, it is breaking free of its ascending triangular pattern. A bullish continuation, an ascending triangle pattern is formed by horizontal resistance lines and rising support lines. The continuation of an uptrend is signaled by a potential break above the resistance.
Solana is in the same position, as it is now above $153 of resistance. According to the pattern, Solana’s target could be $191. It is nearly 25% higher than the current trading price.
![SOL/USDT 8-hour chart.](https://beincrypto.com/wp-content/uploads/2024/04/GGp67iDG-850x380.png.webp)
If SOL can turn the resistance of $169 into support, this rally could be possible.
Click Here to Read More Solana (SOL) Price Prediction 2024/2025/2030
If you are unsure, please contact us. Solana does not sustain $133 It could also test $137 as a support line if it falls through. If it is lost, the bullish result could be invalidated and further declines may occur.
Trusted
You can also find out more about us on our website.
According to the Trust Project This article on price analysis is intended for general information only. It should not be construed as financial advice or investment guidance. BeInCrypto strives to provide accurate and unbiased information, however, market conditions can change at any time. Before making financial decisions, always do your research and speak to a professional. Our website is not responsible for any errors. Terms and Conditions, Privacy Policies” Disclaimers The updated version of the website has been published.