Solana (SOLUSD) just broke out of a multi-month triangle on the 8H chart, signaling a potential reversal and continuation toward previous highs.
Key Highlights:
🔹 Break of Structure (BOS): Price broke through descending resistance, flipping momentum in the bulls’ favor.
🔹 Fibonacci Confluence: Bounce came cleanly from the 0.5–0.618 zone ($129–$140), adding high-probability support.
🔹 Triangle Apex Break: Consolidation is over — the arrow is launched.
🔹 Targeting Previous Highs: $185–$190 range is in sight, with historical resistance marked.
🔹 Risk Defined: Stop idea near the previous low and triangle base (~$115).
⚠️ Watch for confirmation candle closes and volume follow-through — the move is just beginning.
Key Highlights:
🔹 Break of Structure (BOS): Price broke through descending resistance, flipping momentum in the bulls’ favor.
🔹 Fibonacci Confluence: Bounce came cleanly from the 0.5–0.618 zone ($129–$140), adding high-probability support.
🔹 Triangle Apex Break: Consolidation is over — the arrow is launched.
🔹 Targeting Previous Highs: $185–$190 range is in sight, with historical resistance marked.
🔹 Risk Defined: Stop idea near the previous low and triangle base (~$115).
⚠️ Watch for confirmation candle closes and volume follow-through — the move is just beginning.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Try our strategy optimizer at quanttradingpro.com
Developing free strategies weekly stay tuned...
Join our discord discord.gg/2systG9frc
We provide education & tools.
Developing free strategies weekly stay tuned...
Join our discord discord.gg/2systG9frc
We provide education & tools.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.