Analyst: SOL may break out of a triangle, pushing its price up again

Odaily Odaily News: Fairlead Strategies analysts believe that SOL may have a triangular breakthrough, which will drive its price up again. SOL almost doubled in the first quarter to more than $200. Since then, its upward trend has lost momentum, with pullback support at around $120, and the price recovery has gradually slowed down. This has led to a so-called descending triangle pattern, which indicates that sellers are dominant, so the breakthrough represents a new upward momentum. "A breakthrough would mark a bullish continuation of SOL's long-term uptrend, with secondary resistance around $202. Triangle support is around $132. However, we remain neutral until a breakthrough occurs," Fairlead Strategies analysts said in a report to clients on Monday. (CoinDesk)