Solana has broken below its long-term ascending trendline on the 4H timeframe, showing clear weakness after failing to hold above key support levels. Price action has also slipped under the Ichimoku cloud, signaling bearish momentum.
The rejection from the previous support-turned-resistance zone confirms the breakdown, and sellers are currently in control. If momentum continues, the market could push toward the highlighted demand zones:
Entry at ; 198
1st Target Zone: Around 185
2nd Target Zone: Around 165
As long as price stays below the broken trendline and resistance levels, bearish pressure remains dominant. A recovery back above the cloud and key resistance would invalidate this setup.
The rejection from the previous support-turned-resistance zone confirms the breakdown, and sellers are currently in control. If momentum continues, the market could push toward the highlighted demand zones:
Entry at ; 198
1st Target Zone: Around 185
2nd Target Zone: Around 165
As long as price stays below the broken trendline and resistance levels, bearish pressure remains dominant. A recovery back above the cloud and key resistance would invalidate this setup.
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daily provide 3-5 free signals with chart analysis
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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.
Full-time Forex & Gold Trader | Market Analyst | Sharing Setups & Insights | Trade Smart, Trade Secure
t.me/+tac7DeKXDTVhZTU8
daily provide 3-5 free signals with chart analysis
t.me/+tac7DeKXDTVhZTU8
t.me/+tac7DeKXDTVhZTU8
daily provide 3-5 free signals with chart analysis
t.me/+tac7DeKXDTVhZTU8
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.