Solana (SOL/USD) – Key Resistance Breakout & Retest

Aug 5

Solana has broken above a significant horizontal resistance zone around $170, which previously acted as a strong supply area. After the breakout, the price is now retesting the zone, which could potentially flip into support.

A successful retest and bullish confirmation in this zone may open the path for further upside momentum. Traders should monitor this level closely for either:

Bullish continuation if the zone holds and price forms a higher low.

Fakeout confirmation if price closes back below the zone with increasing volume.

📊 Technical Outlook:

Timeframe: 15-min

Key Level: $170

Bias: Bullish above $170, cautious below

🔔 Watch for a strong bullish candle or volume confirmation on the retest before entering long positions. Risk management is key.

Aug 6

Trade active

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