SOL is currently at a decision point, mainly due to both the ongoing recession and the delayed ETF approvals.
On the daily chart, it’s getting squeezed inside a large wedge pattern. Normally, it should make one more top before breaking down. However, just to be clear — if price drops below 192, there’s a strong possibility of a sharp sell-off. That’s where both the character shift and wedge breakdown would occur.
Some additional details:
Volume is flat and indecisive. It’s moving in line with the wedge, which isn’t a great sign. Typically, this kind of volume behavior is seen during wedge formations.
The RSI looks unusual — there are both negative and hidden bullish divergences. If you’re wondering which one matters more, it’s the hidden bullish divergence — it’s the stronger signal here.
If the recent high is broken, we could see SOL climbing towards the 270 region, after which we’ll know whether the wedge remains valid. However, in general, the outlook doesn’t look too strong at the moment.
On the daily chart, it’s getting squeezed inside a large wedge pattern. Normally, it should make one more top before breaking down. However, just to be clear — if price drops below 192, there’s a strong possibility of a sharp sell-off. That’s where both the character shift and wedge breakdown would occur.
Some additional details:
Volume is flat and indecisive. It’s moving in line with the wedge, which isn’t a great sign. Typically, this kind of volume behavior is seen during wedge formations.
The RSI looks unusual — there are both negative and hidden bullish divergences. If you’re wondering which one matters more, it’s the hidden bullish divergence — it’s the stronger signal here.
If the recent high is broken, we could see SOL climbing towards the 270 region, after which we’ll know whether the wedge remains valid. However, in general, the outlook doesn’t look too strong at the moment.
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Penerbitan berkaitan
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.