Solana (SOL) has been growing rapidly in recent days, with the current price at the time of analysis reaching around $169. Let's look at the short-term outlook for price movement based on the current chart and technical indicators.
Current situation on the chart
According to the SOL/USDT chart, Solana price is in a strong uptrend and has recently broken through key resistance levels, showing strong gains. Exponential moving averages (EMA) are supporting this move, indicating further strength for the bulls in the market. The price is currently above the $160 level, making the nearest support and resistance levels key for the short-term move.
Probability of further growth: 60-65%
The current upward momentum is very strong, and the probability that the price will continue to rise is 60-65%. If the price can hold above the $165-170 level, we can expect a move to $180 and even $190 in the short term. The growth is supported by good trading volumes and bullish sentiment in the market.
Correction probability: 35-40%
However, with such a sharp rise, there is always a possibility of a correction. The probability of a rollback is estimated at 35-40%, and if the market decides to take profits at current levels, the price may roll back to support levels in the $150-155 region. A short-term correction may also be caused by weakening demand after a long upward movement.
Summary
Solana continues to show strong growth and the short-term outlook remains positive, but the risk of a correction remains. Investors should closely monitor support levels and trading volumes to react to changing market conditions in a timely manner.
