After a period of sustained selling pressure, the SOL/USDT pair appears to have reached a "selling exhaustion" phase at recent support levels. We are currently observing a tangible shift in Market Structure, signaling that buyers are stepping in to reclaim control.
Key Technical Highlights:
Bottom Formation & Price Action: The price successfully built a solid base near the 76.50 levels. Strong buy-side liquidity emerged, preventing further decline and initiating a pattern of "Higher Lows," which supports the reversal thesis.
Momentum & Indicators: This upward movement coincides with a bullish crossover on the MACD, reflecting increasing bullish momentum. Additionally, the upward surge in the Stoch RSI confirms the current strength of the move.
Moving Averages: Holding steady above the short-term moving averages (MA7 & MA25) strengthens confidence in the short-term trend and paves the way for gradually targeting the next resistance levels.
Technical Outlook:
As long as the price stabilizes above the aforementioned key support zones, the outlook remains optimistic for testing the 79 and 80 regions as initial targets. However, a break in the current structure (closing below the recent low) would require a complete reassessment of the setup.
Reminder: Risk management is the key to longevity in financial markets. Technical analysis is a tool to increase the probability of success, not a guarantee of outcomes.
Do you think SOL will maintain its bullish momentum through next week? Share your thoughts in the comments! 👇
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