Is Solana (SOL) About to Shock the Market With a Major Reversal — or Is This Just a Bull Trap?
Many traders believe SOL has already lost momentum — but the chart says otherwise. Zooming into the daily timeframe, SOL is forming a descending wedge, a historically bullish pattern. Price is currently compressing near $123, sitting just above the wedge support and preparing for a potential breakout toward the 50-day EMA.
RSI is hovering around 40, signaling bear exhaustion, while MACD histogram shows fading bearish momentum — early signs of a bullish shift. If bulls reclaim the $137 – $143 zone, momentum could accelerate toward higher targets.
📌 Technical Outlook
Pattern: Descending Wedge (Bullish Bias)
Trend: Short-term compression, volume weakening — breakout likely pending
Key Resistance: $137 / $143 / $164
Key Support: $118 / $107
🎯 Trading Plan (Not Financial Advice)
Buy Entry: $123
Stop-Loss (SL): $116
Take-Profit (TP1): $137
TP2: $143
TP3: $164 (aggressive)
A confirmed candle close above $137 increases continuation probability. If price breaks below wedge support — invalidate setup.
💬 What do YOU think — breakout coming, or another fake pump?
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