Crypto analyst CoinsKid forecasts a potential Solana (SOL) price rally following a positive signal from the CoinsKidRibbon indicator. This indicator previously aided Solana in achieving substantial gains in late 2023.
Signals for Solana
According to CoinsKid's analysis, Solana has surpassed key levels and broken an important Fibonacci target. The analyst predicts a possible all-time high for Solana. CoinsKid highlights the importance of the CoinsKidRibbon indicator, which previously signaled SOL’s sharp rally.
SOL's Price Dynamics
Chart analysis identifies key support and resistance levels essential for SOL’s bullish outlook. The 0.618 Fibonacci level at $163.83 acts as a support zone, while breaking above the 1 level could confirm a rally. CoinsKid's confidence in SOL’s potential is reinforced by key moving averages providing strong momentum.
Historical Context and Future Projections
CoinsKid's tweet provides historical context, referencing the October 2023 buy signal that led SOL to a 1,000% gain. After an April correction, SOL is again on an upward trend. The primary target is the 1.618 Fibonacci extension at $313.35.
Analyst CoinsKid predicts positive development for Solana based on current signals and historical results. If the trend holds, SOL could reach new high values.
