$SOL
While breakout chasers buy into local relief bounces, this 1-hour chart on $SOL is forming a descending triangle continuation pattern below overhead resistance to set up a short position.
After failing to sustain upside momentum and consolidating beneath the diagonal trendline, price is currently trading around $100.41. The projected path outlines a continuation downward from the current breakdown zone through intermediate levels toward the short-term target near $95.0 and the mid-term target near $92.2.
Holding below the invalidation level at $106 keeps the bearish continuation setup active, targeting $92.2. A strong push and close above $106 invalidates the short bias and shifts market structure back toward higher range resistance.
Don't short into local support floors blindly—wait for confirmed rejections at key descending triangle boundaries before positioning for the downside continuation leg.
#SOL #Solana #CryptoAnalysis #TechnicalAnalysis #Trading
While breakout chasers buy into local relief bounces, this 1-hour chart on $SOL is forming a descending triangle continuation pattern below overhead resistance to set up a short position.
After failing to sustain upside momentum and consolidating beneath the diagonal trendline, price is currently trading around $100.41. The projected path outlines a continuation downward from the current breakdown zone through intermediate levels toward the short-term target near $95.0 and the mid-term target near $92.2.
Holding below the invalidation level at $106 keeps the bearish continuation setup active, targeting $92.2. A strong push and close above $106 invalidates the short bias and shifts market structure back toward higher range resistance.
Don't short into local support floors blindly—wait for confirmed rejections at key descending triangle boundaries before positioning for the downside continuation leg.
#SOL #Solana #CryptoAnalysis #TechnicalAnalysis #Trading
