The breakdown from the rising wedge is a bearish signal, suggesting a potential continuation of the downtrend.
Immediate Support: The next strong support lies around $181, which aligns with both the 200-day EMA and the ascending trendline support. This confluence zone will be crucial in determining if the bulls can defend the uptrend.
Resistance Levels: On the upside, resistance is seen near $220, which was the lower boundary of the wedge and may now act as resistance. Stronger resistance remains around $240–260.
Outlook: If SOL holds the $180 support, it may attempt a rebound. However, a breakdown below this level could accelerate bearish momentum, targeting the $150–160 range.
Immediate Support: The next strong support lies around $181, which aligns with both the 200-day EMA and the ascending trendline support. This confluence zone will be crucial in determining if the bulls can defend the uptrend.
Resistance Levels: On the upside, resistance is seen near $220, which was the lower boundary of the wedge and may now act as resistance. Stronger resistance remains around $240–260.
Outlook: If SOL holds the $180 support, it may attempt a rebound. However, a breakdown below this level could accelerate bearish momentum, targeting the $150–160 range.
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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.