🔹SOL/USDT – 4H Chart Technical Outlook
▪️Market Context:
Solana (SOL) is displaying a shift in momentum from bullish to bearish, following a breakdown from a prolonged consolidation phase. Price is currently hovering around $152.71 and forming a potential lower high structure below a key resistance area.
▪️Key Levels & Zones:
* Support Turned Resistance: $158-$161
* Immediate Support Area: $144-$148
* Next Target Support: $126-$128
* Demand Zone (Bull Run Origin): $121-$126
▪️Price Action Analysis:
The recent breakdown below the consolidation zone has led price into a former support area, which now acts as resistance. A failed retest of this zone (noted with a red arrow) has prompted renewed bearish pressure.
▪️The projected structure suggests a continuation pattern forming. Price is expected to:
1. Reject from the current resistance (lower high formation).
2. Break down from the $144-$148 support area.
3. Head toward the broader demand zone at $126.
▪️Bearish Bias:
* Price is below a major support-turned-resistance zone.
* Momentum is weak, supported by volume spikes during down moves.
* Confirmation of a lower high strengthens the bearish outlook.
▪️Conclusion:
Unless bulls reclaim the $158-$161 zone convincingly, SOL is likely to trend lower in the short term. Key bearish targets lie between $126-$128, where previous demand sparked a strong rally. Traders may look for confirmation via breakdowns and retests for potential short setups.
🔹Community Insight:
If you find this analysis helpful in your trading journey, feel free to share your thoughts or questions in the comments. Let’s work together to maintain a disciplined, technical approach to the markets.
▪️Follow for regular updates and trade setups.
▪️Market Context:
Solana (SOL) is displaying a shift in momentum from bullish to bearish, following a breakdown from a prolonged consolidation phase. Price is currently hovering around $152.71 and forming a potential lower high structure below a key resistance area.
▪️Key Levels & Zones:
* Support Turned Resistance: $158-$161
* Immediate Support Area: $144-$148
* Next Target Support: $126-$128
* Demand Zone (Bull Run Origin): $121-$126
▪️Price Action Analysis:
The recent breakdown below the consolidation zone has led price into a former support area, which now acts as resistance. A failed retest of this zone (noted with a red arrow) has prompted renewed bearish pressure.
▪️The projected structure suggests a continuation pattern forming. Price is expected to:
1. Reject from the current resistance (lower high formation).
2. Break down from the $144-$148 support area.
3. Head toward the broader demand zone at $126.
▪️Bearish Bias:
* Price is below a major support-turned-resistance zone.
* Momentum is weak, supported by volume spikes during down moves.
* Confirmation of a lower high strengthens the bearish outlook.
▪️Conclusion:
Unless bulls reclaim the $158-$161 zone convincingly, SOL is likely to trend lower in the short term. Key bearish targets lie between $126-$128, where previous demand sparked a strong rally. Traders may look for confirmation via breakdowns and retests for potential short setups.
🔹Community Insight:
If you find this analysis helpful in your trading journey, feel free to share your thoughts or questions in the comments. Let’s work together to maintain a disciplined, technical approach to the markets.
▪️Follow for regular updates and trade setups.
Trade active
from SBR level Note
trade running 80 pips+Note
trade running 200 pips+
Trade closed: target reached
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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.
Related publications
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.