Is Solana on the Brink of a Major Move?
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Yello, Paradisers! Have you noticed how #SOLUSDT's recent price action might be signaling a larger move ahead? Let’s dive in.
💎#Solana since its 61.8% retracement towards the recent highs of $163.50 has faced consistent downward pressure. The current price action is showing signs of congestion, with strong resistance forming between the $148 and $151 levels. This area also coincides with the dynamic 4-hour EMA-200, reinforcing its significance. Since August 11th, Solana has tested this resistance zone four times, each time resulting in an immediate rejection.
💎As long as Solana struggles to break above this formidable resistance region, the upside potential remains limited, and we may see lower levels coming into play.
💎In the coming hours, Solana is likely to move towards the $138 support level. While this support is relatively strong, the bulls’ repeated failure to surpass $151 could put this level under pressure. Should this support be breached, we could see Solana dipping further to $135.20 initially, followed by more substantial support in the $131 to $127 range. This region represents a bullish order block and could trigger a reaction from the bulls.
💎On the flip side, if Solana can convincingly reclaim the $151 level, we could see a bullish continuation with the potential for significant upside.
Paradisers, staying patient and disciplined is key. Only the highest probability setups should be on your radar if you’re aiming for long-term success in this volatile market.
MyCryptoParadise
iFeel the success🌴
💎#Solana since its 61.8% retracement towards the recent highs of $163.50 has faced consistent downward pressure. The current price action is showing signs of congestion, with strong resistance forming between the $148 and $151 levels. This area also coincides with the dynamic 4-hour EMA-200, reinforcing its significance. Since August 11th, Solana has tested this resistance zone four times, each time resulting in an immediate rejection.
💎As long as Solana struggles to break above this formidable resistance region, the upside potential remains limited, and we may see lower levels coming into play.
💎In the coming hours, Solana is likely to move towards the $138 support level. While this support is relatively strong, the bulls’ repeated failure to surpass $151 could put this level under pressure. Should this support be breached, we could see Solana dipping further to $135.20 initially, followed by more substantial support in the $131 to $127 range. This region represents a bullish order block and could trigger a reaction from the bulls.
💎On the flip side, if Solana can convincingly reclaim the $151 level, we could see a bullish continuation with the potential for significant upside.
Paradisers, staying patient and disciplined is key. Only the highest probability setups should be on your radar if you’re aiming for long-term success in this volatile market.
MyCryptoParadise
iFeel the success🌴
Trade attivo
Boom! #SOL is doing just what we said. Up 3% and looking good!
The congestion on the upside is creating some selling pressure for the pair. Price now closing onto 138$ support level.
Over the coming hours strong volatility cant be ruled out. Caution advised!!
Trade chiuso: stop raggiunto
#Solana after pulling a few profits for sellers, found very strong supports in 139-137 range which eventually created a major reversal for Solana.
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