Solana rallied from sub-$100 support but is now facing heavy resistance near $149 — a level packed with technical confluence. The move up has been met with declining volume, and early signs of rejection are already surfacing on the lower time frames.
Key Points:
Price tapped the 2024 point of control at $149, overlapping with VWAP and the 0.618 Fibonacci.
Volume remains weak, signaling potential exhaustion in the current bounce.
Unless bulls reclaim $149 convincingly, this area is likely to act as a ceiling, pushing Solana back toward the value area low at $113 or even a retest of the $100 daily support. A breakdown below $113 could accelerate the move lower, so this remains a key swing level to watch.
Key Points:
Price tapped the 2024 point of control at $149, overlapping with VWAP and the 0.618 Fibonacci.
Volume remains weak, signaling potential exhaustion in the current bounce.
Unless bulls reclaim $149 convincingly, this area is likely to act as a ceiling, pushing Solana back toward the value area low at $113 or even a retest of the $100 daily support. A breakdown below $113 could accelerate the move lower, so this remains a key swing level to watch.
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Free Alpha Group t.me/freetradingden
Unlock up-to $8,000 USDT in bonuses, only at Blofin - Link Below to start Trading.
partner.blofin.com/d/alchemisttrader
Unlock up-to $8,000 USDT in bonuses, only at Blofin - Link Below to start Trading.
partner.blofin.com/d/alchemisttrader
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.