Technical analysis by ZelfTrade about Symbol SOL: Buy recommendation (10/20/2024)

There seems to be some life returning to SOLANA. I’m glad it held the $134 zone and has finally broken above the weekly block, even if just slightly. We want to see it move much higher towards the 2022 open to have a chance at new highs.For now, it’s still "trying" to escape the consolidation phase from August but needs to move away from this 9-month range.A final leg towards new highs could reignite the meme sector. I’ve mentioned buying betas like RAY, JUP, and JJTO, as these are likely to outperform SOLANA, so keep an open mind about the level of risk to take.______________________________________________________________________________The weekly chart is showing a weak but at least a bullish signal for the first time since May 2024.This is not a bad spot to add a "little" exposure and continue to accumulate on dips.Guess there won't be any pullback 😅 This is the moment for price to get above $170, and then we aim for ATHs! Had the exposure now we wait for deeps or Weekly trend confirmation.Consolidating here for a bit, possibly through this week and leading up to the elections.Even higher. This one, RAY and JUP are easy holdsSolana trend is active on the weekly, and it even provided a second chance to enter at $160. I’m waiting for the monthly to activate above $194 before the end of the month. We’ll see if it has the strength to reach that level. If it does, it will be full-blown bullish for Solana betas like RAY, JUP, and JTO. We’re already positioned in some of them, so I’ll add more risk on the way up.