Solana Prediction: Can Canadian ETP Drive SOL Beyond $300?

Solana price poised for bounce, stabilizing at key support

• Canadian crypto asset company 3iQ has applied to launch the #Solana Fund ETP in Canada, aiming to offer SOL investment opportunities and staking income.

• Over the past 6 to 8 months, $SOL has demonstrated resilience, reaching a peak near $210.

• Despite attempts, bulls couldn't maintain $SOL above the key $200 mark, leading to a significant 36% decline in price.

• Over the past three months, #Solana has been trading in a sideways movement, forming a symmetrical triangle pattern.

• Following resistance at the upper boundary of this triangle, SOL shifted to trade within a descending wedge and is currently positioned at the wedge's apex.

• With a 1.80% intraday gain, the daily chart shows buyers rejecting the support level of the triangle pattern, indicating accumulation during this dip.

• According to Coingabbar analysis, If the current pattern holds, SOL could gather momentum for a potential upward rally.

• Conversely, failure to maintain this pattern might lead SOL to decline rapidly towards $120 in the coming days.

KEY LEVELS :

RESISTANCE LEVEL : $142-$151

SUPPORT LEVEL : $129-$119

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