SOL/USDT TETHER forum
Solana’s latest impulsive move failed to close significantly higher than the previous one. In fact, they closed at nearly the same level, which raises the risk of a potential double top pattern.
Looking at the current 4-hour chart, Solana seems to be nearing the end of this move. If the $157 support level breaks, it would likely indicate a transition from a bullish to a bearish structure on the 4H timeframe. The first target in such a breakdown would be around $154. If the $154 support fails to hold, the second target would be near $149.
Volume currently appears quite low, and the presence of long upper wicks adds further risk. Given the current conditions, Solana looks quite risky, and I do not recommend any trading positions—either buy or sell—at this time.