SOL/USD continues to trade within a long-term ascending channel, but in the past two weeks, the pair has been testing its lower boundary, showing early signs of potential breakdown. A confirmed move below the 187.50–183.80 zone (Murray [4/8], 50.0% Fibonacci retracement) could accelerate the decline toward 165.70 (38.2% Fib) and 140.62 (Murray [1/8], 23.6% Fib).
For bulls, the key level to watch is 203.12 (Murray [5/8], 61.8% Fib) — a breakout above it would indicate renewed bullish strength, opening the path to 234.38 (Murray [7/8]), 250.00 (Murray [8/8]), and potentially 265.62 (Murray [+1/8]), the upper boundary of the channel.
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Technical Analysis
• Bollinger Bands: Pointing downward — confirming bearish momentum.
• MACD: Stable in the negative zone — selling pressure remains dominant.
• Stochastic: Flattening after recovery — showing a pause in momentum.
On the weekly chart, price action is attempting to break below the midline of the Bollinger Bands, which would confirm a medium-term correction phase if realized.
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Trading Plan
📉 Sell Setup
• Entry: 183.75
• Targets: 165.70 → 140.62
• Stop-Loss: 197.00
• Time Horizon: 5–7 days
📈 Buy Setup (Breakout Scenario)
• Entry: 203.15
• Targets: 234.38 → 250.00 → 265.62
• Stop-Loss: 187.00
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Key Levels
Support: 183.80 · 165.70 · 140.62
Resistance: 203.12 · 234.38 · 250.00 · 265.62
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💬 Solana is at a critical point within its long-term uptrend. A daily close below 183.80 could confirm a deeper correction, while a breakout above 203.12 would revive bullish sentiment and signal a return toward the upper channel levels.
For bulls, the key level to watch is 203.12 (Murray [5/8], 61.8% Fib) — a breakout above it would indicate renewed bullish strength, opening the path to 234.38 (Murray [7/8]), 250.00 (Murray [8/8]), and potentially 265.62 (Murray [+1/8]), the upper boundary of the channel.
⸻
Technical Analysis
• Bollinger Bands: Pointing downward — confirming bearish momentum.
• MACD: Stable in the negative zone — selling pressure remains dominant.
• Stochastic: Flattening after recovery — showing a pause in momentum.
On the weekly chart, price action is attempting to break below the midline of the Bollinger Bands, which would confirm a medium-term correction phase if realized.
⸻
Trading Plan
📉 Sell Setup
• Entry: 183.75
• Targets: 165.70 → 140.62
• Stop-Loss: 197.00
• Time Horizon: 5–7 days
📈 Buy Setup (Breakout Scenario)
• Entry: 203.15
• Targets: 234.38 → 250.00 → 265.62
• Stop-Loss: 187.00
⸻
Key Levels
Support: 183.80 · 165.70 · 140.62
Resistance: 203.12 · 234.38 · 250.00 · 265.62
⸻
💬 Solana is at a critical point within its long-term uptrend. A daily close below 183.80 could confirm a deeper correction, while a breakout above 203.12 would revive bullish sentiment and signal a return toward the upper channel levels.
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.
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.