SOL is showing relative underperformance compared to the broader crypto market, but the technical picture suggests a potential reversal opportunity.
Current Setup:
Price recently bounced from the crucial support zone (green box) around $118-140
A clear ascending trendline has formed, indicating building momentum
Key Levels:
Support Zone: $118-140 (green box) - holding well
Resistance Zone: $190-200 (purple box) - next major hurdle
Breakout Target: $340+ based on the projected path
Technical Outlook:
The ascending trendline breakout combined with the support zone hold suggests SOL may be ready to catch up with market leaders. The relative underperformance could present a catch-up opportunity once it clears the resistance zone.
Risk Consideration:
A break below the green support zone would invalidate this bullish scenario and could lead to further weakness.
Current Setup:
Price recently bounced from the crucial support zone (green box) around $118-140
A clear ascending trendline has formed, indicating building momentum
Key Levels:
Support Zone: $118-140 (green box) - holding well
Resistance Zone: $190-200 (purple box) - next major hurdle
Breakout Target: $340+ based on the projected path
Technical Outlook:
The ascending trendline breakout combined with the support zone hold suggests SOL may be ready to catch up with market leaders. The relative underperformance could present a catch-up opportunity once it clears the resistance zone.
Risk Consideration:
A break below the green support zone would invalidate this bullish scenario and could lead to further weakness.
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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.
Find top crypto tokens with sector indices, AI-powered sentiment analysis & news summaries.
tokenradar.ai/tv
tokenradar.ai/tv
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.