Technical analysis by kointimes about Symbol SOL on 1/17/2025

The cryptocurrency market has been experiencing increases in recent days. Increases in altcoins have been expected for a long time, but the desired upward trend has never been experienced due to constant selling pressure. Ethereum Despite making many updates, the transaction bottlenecks in its network and its inability to solve transaction costs continue to trigger the rise of alternative coins to Ethereum. solana is at the forefront of these coins, solana is one of the rare altcoins that does not have serious problems in terms of network cost and transaction speed. Trump's inauguration on January 20 and the very short time left until January 20 are the main factors that triggered and will continue to trigger the rise in the cryptocurrency market. In popular indicators, bullish signals for solana have begun to come. When we look at Chaikin, vortex, macd, rsi data, we can see the signals. I showed the important fib points on the chart and explained the fib points for you below; Support Levels: 202.24 (Fibonacci 50% level): A strong support level, staying above this level is critical for the upward momentum to continue. 189.75 (Fibonacci 61.8% level): This level, known as the golden ratio, is usually a region where the price reacts. 173.29: The main support point to watch for a stronger correction. Resistance Levels: 233.24 (Fibonacci 23.6% level): An important resistance that must be overcome for the rise to continue. 244.86: Breaking this level could be an important signal for Solana to enter a new uptrend. 264.50: Longer-term resistance point, breaking this level could further strengthen the uptrend.