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At what rate should I sell Solana to get the maximum profit?

At what rate should I sell Solana to get the maximum profit?

HappyCoinNewsHappyCoinNews2024/11/17 19:55
By:HappyCoinNews

November 17th at the market Solana Another breakthrough has occurred, so the question has arisen about what rate to sell cryptocurrency at to maximize profits.

On Sunday the cost Solana struck the upper boundary of the contracting triangle that began to form on November 12. Given the width of the figure, it is clear that the coin will rise in price to at least $250 in the near future.

At what rate should I sell Solana to get the maximum profit? image 0

Breakout of a contracting triangle on a price chart Solana

Technical indicators point to a continuation of the bullish rally. For example, on the daily chart, the Average Directional Index is significantly above 25 and stands at 35,37, which indicates the continuation of the upward trend, and the RSI, which has reached 74, has not yet entered the overbought zone.

Blockchain metrics Solana also signal an upward movement. The value of staked SOL sharply increased and exceeded $8 billion, and the trading volume on decentralized exchanges operating on the SOL network from November 10 to 15 reached a very high figure of $16 billion.

At what rate should I sell Solana to get the maximum profit? image 1

Changing the value of blocked coins Solana

All the above factors suggest that the bulls will not stop at $250. Most likely, the pump will continue, and the price Solana will update the historical maximum recorded in November 2021 in the region of $260.

In this case, the price of SOL should rise to the $321 mark, located at 1,236 Fibonacci level from the previous maximum. Accordingly, Solana can be sold at a rate of $321, thus earning a profit of 35% in case of purchasing coins at the current price.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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