(SOL/USDT) is currently trading near 148.81 on the 2-hour timeframe. The price has been respecting an ascending channel structure for the past several days. However, bearish pressure is starting to build as the price struggles to maintain momentum near the channel resistance.
A potential break below the channel support could trigger a sharp bearish move, with downside targets around the 110.00 level. The projected path is marked with black lines showing the expected price breakdown scenario.
Resistance around 156.30 remains critical; as long as SOL trades below this level, the bearish breakdown remains in focus.
Key Support Zone:
110.00 (Major Target)
Key Resistance Level:
156.30
Idea:
If price breaks and closes below the rising channel support, a significant sell-off could follow. Traders should watch for a confirmed breakdown before entering short positions.
A potential break below the channel support could trigger a sharp bearish move, with downside targets around the 110.00 level. The projected path is marked with black lines showing the expected price breakdown scenario.
Resistance around 156.30 remains critical; as long as SOL trades below this level, the bearish breakdown remains in focus.
Key Support Zone:
110.00 (Major Target)
Key Resistance Level:
156.30
Idea:
If price breaks and closes below the rising channel support, a significant sell-off could follow. Traders should watch for a confirmed breakdown before entering short positions.
Stay informed — join our official Telegram channel for news and updates. t.me/Liam_JonesCryptoFXTrader
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.
Stay informed — join our official Telegram channel for news and updates. t.me/Liam_JonesCryptoFXTrader
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.