🛠 Technical Overview
🔸 Asset: Solana (SOL) / USDT Perpetual Futures
🔸 Exchange: MEXC
🔸 Timeframe: 4-Hour Chart
🔸 Pattern: Descending Channel
📊 Analysis & Market Observations
Solana (SOL) is currently trading within a clear descending channel, facing strong resistance near $135 - $140 (Mini ChoCH) and $150 - $160 (Major ChoCH).
🚀 Bullish Outlook
If SOL breaks above $135 (Mini ChoCH), we might see a short-term reversal.
A breakout above the $150 - $160 Major ChoCH level would indicate a confirmed trend shift.
Potential bullish targets: $180 - $200 after breakout confirmation.
📉 Bearish Outlook
SOL remains in a downtrend as long as it stays within the channel.
If price fails to hold the $125 - $130 support zone, it could test $100 - $110 (lower channel support).
A breakdown from the channel could push SOL into a deeper retracement toward $80 - $90.
🎯 Trading Strategy
📌 Breakout Confirmation: Look for 4H candle close above $140 - $150 for a trend reversal.
📌 Retest Entry: If price breaks and retests key levels, it could present a strong long opportunity.
📌 Channel Support Longs: If SOL drops to $100 - $110, watch for bullish signals to enter long positions.
📊 Key Levels to Watch
🔹 Resistance: $135 (Mini ChoCH), $150 - $160 (Major ChoCH)
🔹 Support: $125 - $130 (demand zone), $100 - $110 (lower channel)
🚀 Potential Breakout Incoming! Stay prepared for the next move. 🚀
🔸 Asset: Solana (SOL) / USDT Perpetual Futures
🔸 Exchange: MEXC
🔸 Timeframe: 4-Hour Chart
🔸 Pattern: Descending Channel
📊 Analysis & Market Observations
Solana (SOL) is currently trading within a clear descending channel, facing strong resistance near $135 - $140 (Mini ChoCH) and $150 - $160 (Major ChoCH).
🚀 Bullish Outlook
If SOL breaks above $135 (Mini ChoCH), we might see a short-term reversal.
A breakout above the $150 - $160 Major ChoCH level would indicate a confirmed trend shift.
Potential bullish targets: $180 - $200 after breakout confirmation.
📉 Bearish Outlook
SOL remains in a downtrend as long as it stays within the channel.
If price fails to hold the $125 - $130 support zone, it could test $100 - $110 (lower channel support).
A breakdown from the channel could push SOL into a deeper retracement toward $80 - $90.
🎯 Trading Strategy
📌 Breakout Confirmation: Look for 4H candle close above $140 - $150 for a trend reversal.
📌 Retest Entry: If price breaks and retests key levels, it could present a strong long opportunity.
📌 Channel Support Longs: If SOL drops to $100 - $110, watch for bullish signals to enter long positions.
📊 Key Levels to Watch
🔹 Resistance: $135 (Mini ChoCH), $150 - $160 (Major ChoCH)
🔹 Support: $125 - $130 (demand zone), $100 - $110 (lower channel)
🚀 Potential Breakout Incoming! Stay prepared for the next move. 🚀
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.