Solana is currently testing a key resistance zone (highlighted in purple), which has rejected the price multiple times in the recent past. At the same time, it continues to respect a well-defined ascending trendline, indicating building bullish pressure.
The blue zone marks an important horizontal support level, which served as the base for the previous breakout.
This chart is displayed in logarithmic view to better capture percentage-based price movements over time.
At the moment, price is being squeezed between:
the static resistance zone (seller area)
the rising trendline (buyer pressure)
What to watch for?
Break above resistance = potential bullish continuation
Break below trendline = possible retracement to support area
What do you think will happen next? Are you bullish or bearish on Solana?
Let me know in the comments!
If you enjoyed this post, feel free to share it with your friends!
Thank you!
#Solana #SOLUSDT #CryptoTrading #TechnicalAnalysis #LogChart #PriceAction #Breakout #SupportResistance #TradingView #Altcoins
The blue zone marks an important horizontal support level, which served as the base for the previous breakout.
This chart is displayed in logarithmic view to better capture percentage-based price movements over time.
At the moment, price is being squeezed between:
the static resistance zone (seller area)
the rising trendline (buyer pressure)
What to watch for?
Break above resistance = potential bullish continuation
Break below trendline = possible retracement to support area
What do you think will happen next? Are you bullish or bearish on Solana?
Let me know in the comments!
If you enjoyed this post, feel free to share it with your friends!
Thank you!
#Solana #SOLUSDT #CryptoTrading #TechnicalAnalysis #LogChart #PriceAction #Breakout #SupportResistance #TradingView #Altcoins
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🚀Get free signals, strategies, market insights & tools I use.
📌 Telegram Channel : t.me/cryptolvke
📌Free Crypto Strategy : cryptoluke.carrd.co
📌 Shop : beacons.ai/cryptoluke
📌 Support : t.me/CryptoLukeSupport
📌 Telegram Channel : t.me/cryptolvke
📌Free Crypto Strategy : cryptoluke.carrd.co
📌 Shop : beacons.ai/cryptoluke
📌 Support : t.me/CryptoLukeSupport
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.