$SOL Solana has made a notable bounce from the
strong demand zone between $120 - $122. 🟢 The price is currently hovering around $130 on the 4H chart.
Here’s the technical breakdown:
Immediate Resistance: The price is still trading below the 50-day EMA (orange line), which is acting as dynamic resistance. A breakout here is key for bulls.
Cautionary Signal: The Stochastic RSI is entering overbought territory (around 74), suggesting a potential short-term pullback or consolidation before the next leg up.
Key Levels:
Target: A successful break above the EMA could lead to a retest of the major resistance at $144 (yellow line).
Support: Failure to hold current levels could result in a retest of the $120 - $122 support zone.
What are you doing with your SOL bag? Accumulating or waiting for a clearer trend? Let me know below! 👇
