SOLUSD is currently testing the key resistance level at $264.53, which has historically acted as a significant barrier. The EMA ribbon remains bullish, with the price trading consistently above it, indicating strong upward momentum. The ascending trendline, which has provided reliable support in the past, continues to guide the price action upward. A divergence on the TSI is evident, with the oscillator previously trending lower while the price maintained its upward trajectory. This suggests that the bulls are gaining strength and exerting pressure on the resistance. The TSI has recently crossed above the zero line, confirming a bullish momentum shift.
The Signal Builder has provided upward signals recently, aligning with the current market structure. A breakout accompanied by a strong candle close above the resistance could flip this level into support, opening the door for potential new all-time highs.
👨🏻💻💭 What are your thoughts on SOLUSD's potential breakout? Could this lead to a rally beyond the resistance? Share your perspective!
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