Solana can be expected to rise to the next resistance level 170.00, which is the target price for the completion of the active impulse wave 1.
– Solana rising inside impulse wave 1
– Likely to reach resistance level 170.00
Solana cryptocurrency continues to rise inside the sharp minor impulse wave 1, which started earlier from the support area located between the support levels 120.60 and 107.40, which has been reversing the price from the start of May, as can be seen from the daily Solana chart below. This support zone was strengthened by the lower weekly and the daily Bollinger Bands. The upward reversal from thus support zone is started the medium-term upward impulse wave (C) and the active sub-impulse wave 1.
Given the strength of the aforementioned support area and the strengthening bullish sentiment that can be seen across the cryptocurrency markets today, Solana can be expected to rise further toward the next resistance level 170.00, which is the target price for the completion of the active impulse wave 1.
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