Breakout Confirmed
The SOL/ETH pair has broken above the key 10-month resistance around 0.0416, confirming a bullish shift in relative strength. That former resistance should now act as support if the breakout is genuine.
Next Resistance Tested
Price is now challenging the 0.0460 resistance zone after a strong impulsive move higher. A successful reclaim and hold above this level would strengthen the case for a continuation towards the next major resistance around 0.0550.
Momentum Improving
The 21/8-week EMAs remain bullish, with price continuing to trade above both moving averages. RSI has climbed back above 50, although the overbought StochRSI suggests a period of consolidation or a shallow pullback would not be unusual.
Solana Still Leading
The relative strength chart continues to favour Solana over Ethereum, with higher highs and improving momentum supporting the trend. As long as price remains above the breakout zone, the technical advantage remains with Solana.
In Summary
Solana continues to outperform Ethereum after breaking above a significant 10-month resistance level. While short-term momentum appears stretched, the bullish EMA structure and improving RSI suggest the broader trend remains constructive. Holding above 0.0416 and reclaiming 0.0460 would increase the probability of a move towards the major 0.0550 resistance zone.
The SOL/ETH pair has broken above the key 10-month resistance around 0.0416, confirming a bullish shift in relative strength. That former resistance should now act as support if the breakout is genuine.
Next Resistance Tested
Price is now challenging the 0.0460 resistance zone after a strong impulsive move higher. A successful reclaim and hold above this level would strengthen the case for a continuation towards the next major resistance around 0.0550.
Momentum Improving
The 21/8-week EMAs remain bullish, with price continuing to trade above both moving averages. RSI has climbed back above 50, although the overbought StochRSI suggests a period of consolidation or a shallow pullback would not be unusual.
Solana Still Leading
The relative strength chart continues to favour Solana over Ethereum, with higher highs and improving momentum supporting the trend. As long as price remains above the breakout zone, the technical advantage remains with Solana.
In Summary
Solana continues to outperform Ethereum after breaking above a significant 10-month resistance level. While short-term momentum appears stretched, the bullish EMA structure and improving RSI suggest the broader trend remains constructive. Holding above 0.0416 and reclaiming 0.0460 would increase the probability of a move towards the major 0.0550 resistance zone.
I analyse markets by observing levels, patterns, and structure. I share my process and reasoning for educational purposes, helping readers understand market behaviour without giving advice or predictions.
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.
I analyse markets by observing levels, patterns, and structure. I share my process and reasoning for educational purposes, helping readers understand market behaviour without giving advice or predictions.
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.