Solana Wave Analysis – 3 February 2025

- Solana reversed from the support zone
- Likely to rise to the resistance level 220.00

Solana cryptocurrency recently reversed up from the support zone located between the pivotal support level 180.000 (which has been reversing the price from the middle of December), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from August.

The upward reversal from this support zone will likely form the daily Japanese candlesticks reversal pattern Hammer (strong buy signal for Solana – if the price closes today near the current levels.

Given the clear daily uptrend, the Solana cryptocurrency can be expected to rise to the next resistance level, 220.00 (former support from January).