Solana (SOL) has broken out of its falling channel on the daily timeframe, indicating a potential trend reversal. After the initial breakout, SOL made a successful retest of the channel. However, it faced rejection at the 200 EMA, which is now acting as a critical resistance level.
Currently, SOL is attempting a second retest of the 200 EMA. If it breaks and holds above this dynamic resistance, we could see a swift move toward the next major target at $180, with potential to eventually revisit the previous all-time high near $260.
Supporting the bullish outlook:
📈 RSI is showing bullish divergence, confirming upward momentum.
📊 Price action is forming higher lows, establishing a clean uptrend structure.
🔍 Key level to watch: $156 resistance. A daily close above this could confirm the next leg up.
📌 Key Levels:
Resistance to break: $156
Short-term target: $180
Extended target: $260
EMA to watch: 200 EMA (Daily)
Currently, SOL is attempting a second retest of the 200 EMA. If it breaks and holds above this dynamic resistance, we could see a swift move toward the next major target at $180, with potential to eventually revisit the previous all-time high near $260.
Supporting the bullish outlook:
📈 RSI is showing bullish divergence, confirming upward momentum.
📊 Price action is forming higher lows, establishing a clean uptrend structure.
🔍 Key level to watch: $156 resistance. A daily close above this could confirm the next leg up.
📌 Key Levels:
Resistance to break: $156
Short-term target: $180
Extended target: $260
EMA to watch: 200 EMA (Daily)
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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.
🌹TRADING is a CASINO💔!? NO‼️ You❗️CAN and ❗️SHOULD make money in trading! Join me, I'll guide you to PROFITABLE TRADING💵! 🟢Free Telegram Channel: : telegram.me/crypto_vulture_signals
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.