Solana may be completing a rounded bottom formation on the 4H chart — a classic reversal pattern that often signals a shift from distribution to accumulation. After a deep pullback from July highs, SOL has carved out a smooth base with clear curvature, now pressing into the neckline resistance around $169–$171.
The structure resembles a full cycle: a rounded top leading into a rounded bottom — a potential "cup" formation. With Stochastic RSI pushing into overbought territory, we’re approaching a key decision point.
🔍 Key Factors:
– Rounded bottom structure shows controlled re-accumulation
– Neckline acting as current resistance (watch for breakout)
– Break + retest could trigger the next leg toward $185–$190
– Failure to break may lead to chop or retrace toward $158–$160
This pattern often precedes explosive continuation if volume confirms the breakout.
Will SOL confirm the reversal — or is this just another trap?
👇 Comment your thoughts below.
The structure resembles a full cycle: a rounded top leading into a rounded bottom — a potential "cup" formation. With Stochastic RSI pushing into overbought territory, we’re approaching a key decision point.
🔍 Key Factors:
– Rounded bottom structure shows controlled re-accumulation
– Neckline acting as current resistance (watch for breakout)
– Break + retest could trigger the next leg toward $185–$190
– Failure to break may lead to chop or retrace toward $158–$160
This pattern often precedes explosive continuation if volume confirms the breakout.
Will SOL confirm the reversal — or is this just another trap?
👇 Comment your thoughts below.
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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.