Solana Price Forms Cup and Handle Pattern
- Technical Pattern Analysis: Solana's monthly chart reveals a distinct cup and handle formation, with the current price hovering near a critical support level; analysts believe that maintaining this support could help preserve the integrity of the pattern, potentially leading to a long-term price recovery.
- Short-term Support and Resistance: Currently, Solana is trading near the lower edge of a blue channel, and if bulls can defend this area, there is potential for a breakout above resistance, further validating the cup and handle pattern; conversely, failure to hold this level may weaken the formation.
- Long-term Trend Monitoring: On the weekly chart, Solana's price sits above an important support band, and analysts note that if it falls below this lower support band, the long-term recovery scenario could be jeopardized, making it crucial to stay above this level.
- Market Sentiment and Volatility: Despite significant short-term price fluctuations, analysts maintain an optimistic long-term outlook for Solana, as the current technical structure suggests a potential bounce from support, targeting the major resistance area above.
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Technical Analysis for BASED
Technical Sentiment Analysis for Based (BASED). As of , Based (BASED) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 4 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BASED stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BASED is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Based (BASED) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0242 | 0.0469 | 0.0694 | 0.0921 | 0.115 | 0.137 | 0.16 |
| Fibonacci | 0.0469 | 0.0641 | 0.0748 | 0.0921 | 0.109 | 0.12 | 0.137 |
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