Summary
TLDR: Solana (SOL) price broke out but was rejected at $115 resistance, currently trading above $100. RSI indicator is bearish, suggesting a bearish trend. Technical analysis indicates a potential increase to $145 if breakout confirmed, or a decrease to $69 if triangle breaks down. Bullish predictions for SOL price in 2024.
Key Points
1. The Solana (SOL) price has decreased since a horizontal resistance area rejected it on February 14.
2. SOL has traded without any volatility since the end of December 2023, creating a symmetrical triangle pattern.
3. The technical analysis of the daily time frame shows the SOL price broke out from a descending resistance trend line on January 28, 2024, but was rejected by the $115 horizontal resistance area on February 14 and has fallen since.