Solana (SOL) and Kaspa (KAS) reignite after pullbacks

With a backdrop of bitcoin ranging sideways, ready for the next push up, both $SOL and $KAS have bucked this trend with strong breakouts.

A strong upward trend

The upward trend for $SOL really got going in mid-October of this year, and at the time of the initial surge $SOL had been traversing in a sideways channel since November of 2022.

Source: Trading View

That first explosion when it came took $SOL to the top of the channel and then through the resistance at $41. From that time on it has been a strong upward movement which has now pulled back over the last three or four days to the tune of 23%.

$SOL breaks out

Source: Trading View

Following the pullback, $SOL has broken through the downward wedge. Now up against some strong resistance here, another break higher could see $SOL head to $120, and then $140.

The $KAS rocketship

Source: Trading View

Since June of 2023 $KAS has been on a rocketship. In a 6-month period $KAS went from 1 cent to an all time high of 15 cents, and has gone into a period of several weeks of consolidation since then.

$KAS breaks the wedge

Source: Trading View

However, in the last couple of days $KAS has broken out of the confines of a bullish wedge. Currently at resistance, a breakthrough can lead to new all time highs and further price discovery.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Credit: Source link