SOLANA → Pre-breakdown consolidation may lead to distribution

SOLUSDT is declining and testing the support of the trading range as Bitcoin pauses after strong growth and enters a correction phase...



SOL looks a bit weaker than Bitcoin technically, but SOLANA has some positive fundamentals, though that might not be enough.
After forming a false breakout of key daily resistance, Bitcoin is moving into a correction phase. An update of local lows on the chart could trigger a drop across the entire cryptocurrency market.

In SOL, the focus is on the two nearest levels of 148.75 and 145.64. A breakdown of support could trigger the distribution of accumulated energy within the specified range as part of a downward momentum.

Resistance levels: 148.75, 151.2, 153.88
Support levels: 145.64, 138.59

The ideal scenario would be a false breakout of 148.75 (liquidity capture) and a retest of 145.64, followed by a break of support. Consolidation below 145.65 could trigger a drop to the zone of interest at 138.59.

Best regards, R. Linda!