Technical analysis by Edward_Fibonacci about Symbol SOL: Buy recommendation (10/29/2024)

SOLUSDT is in a consolidation phase after breaking the long-term downtrend, with the price stabilizing above the support zone around 170 USDT. This is a positive sign that the uptrend is likely to continue. In addition, the EMA 34 and EMA 89 are both rising, both the short-term and medium-term trends support this breakout.However, a small correction to the support zone around 170 USDT is likely before SOL continues its journey to higher levels, possibly 200 USDT or beyond.Good luck to all traders!