Solana's market cap is approaching a **major resistance zone** near $77.8B, aligning with an ascending trendline. The market is showing signs of exhaustion as price nears this confluence of **horizontal and trendline resistance**.
A bearish reaction is expected from this zone, potentially forming a **lower high** and offering a short opportunity toward the demand zone around $69.6B.
🔻 **Bearish Setup Highlights:
- Resistance Zone: $75.5B – $77.8B
- Entry Idea: On bearish rejection or confirmation near resistance
- Target: $69.6B support zone
- Stop Loss: Above $77.8B (invalidate setup)
A clean retest and rejection can offer a **high-probability short**, with the risk/reward skewed favorably.
A bearish reaction is expected from this zone, potentially forming a **lower high** and offering a short opportunity toward the demand zone around $69.6B.
🔻 **Bearish Setup Highlights:
- Resistance Zone: $75.5B – $77.8B
- Entry Idea: On bearish rejection or confirmation near resistance
- Target: $69.6B support zone
- Stop Loss: Above $77.8B (invalidate setup)
A clean retest and rejection can offer a **high-probability short**, with the risk/reward skewed favorably.
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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.