1. Current Price Context
Price Movement: SOL has gained 7.44% recently, showing strong upside potential.
Trend Structure: The price is attempting to break above key resistance zones after bouncing from recent lows.
2. Key Support & Resistance Levels
Support Levels (Downside Risk)
$131.80–$133.80 Zone – Current short-term support. If price holds above this range, bullish continuation is likely.
$124.87 – Major support level. If SOL falls below this, the bullish momentum could fade.
Resistance Levels (Upside Targets)
$135.99 – Immediate resistance level SOL is currently testing.
$137.00–$138.00 – Next resistance; breaking this could accelerate a move higher.
$150.50 – Primary target and the key resistance in the next leg up.
3. Technical Indicators & Trend Analysis
EMA Ribbon (Dynamic Support/Resistance)
The EMA ribbon is acting as resistance, and SOL is currently battling to break above it.
A decisive close above the ribbon would be a strong bullish signal.
Trendline Analysis
The downward trendline from previous highs intersects near $150.50, meaning this level is crucial for breakout confirmation.
If price reaches $150 and consolidates, it could set up a trend reversal to the upside.
Volume & Momentum Indicators
RSI (Relative Strength Index): 39.38 – showing weak bullish momentum, but not overbought.
MACD (Moving Average Convergence Divergence): -11.97 – still negative, but improving, indicating potential upside acceleration.
Volume Analysis: Needs a significant increase for confirmation; if price rises with low volume, a rejection at resistance is likely.
Price Movement: SOL has gained 7.44% recently, showing strong upside potential.
Trend Structure: The price is attempting to break above key resistance zones after bouncing from recent lows.
2. Key Support & Resistance Levels
Support Levels (Downside Risk)
$131.80–$133.80 Zone – Current short-term support. If price holds above this range, bullish continuation is likely.
$124.87 – Major support level. If SOL falls below this, the bullish momentum could fade.
Resistance Levels (Upside Targets)
$135.99 – Immediate resistance level SOL is currently testing.
$137.00–$138.00 – Next resistance; breaking this could accelerate a move higher.
$150.50 – Primary target and the key resistance in the next leg up.
3. Technical Indicators & Trend Analysis
EMA Ribbon (Dynamic Support/Resistance)
The EMA ribbon is acting as resistance, and SOL is currently battling to break above it.
A decisive close above the ribbon would be a strong bullish signal.
Trendline Analysis
The downward trendline from previous highs intersects near $150.50, meaning this level is crucial for breakout confirmation.
If price reaches $150 and consolidates, it could set up a trend reversal to the upside.
Volume & Momentum Indicators
RSI (Relative Strength Index): 39.38 – showing weak bullish momentum, but not overbought.
MACD (Moving Average Convergence Divergence): -11.97 – still negative, but improving, indicating potential upside acceleration.
Volume Analysis: Needs a significant increase for confirmation; if price rises with low volume, a rejection at resistance is likely.
Misho
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Misho
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.