📍 Timeframe: 4H (MEXC Exchange)
📈 Current Price: $133.02 (+0.57%)
Key Technical Insights:
Trending Resistance Breakout Zone:
The price is approaching a key downtrend resistance (red trendline).
A break and close above this resistance could push SOL towards $148–$150 (gray supply zone).
Two Possible Scenarios:
Bullish Breakout:
A breakout above the resistance trendline could lead to a test of the $148–$150 supply zone.
If demand is strong, further upside toward $160+ could follow.
Bearish Rejection:
A rejection at the trendline could trigger a pullback to the curved support (blue line).
A deeper breakdown may test the $110–$115 demand zone (highlighted with a black box).
Rounded Bottom Formation:
The price structure is forming a curved support indicating accumulation.
If buyers sustain momentum, a breakout could be confirmed with strong volume.
Trading Strategy:
Bullish Case: Enter long positions above $136 with confirmation, targeting $148–$150.
Bearish Case: Enter short positions if rejection occurs at $135, targeting $125 or lower.
Risk Management: A stop loss below $128 for long trades and above $136 for short trades.
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.
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.