Solana is currently testing a key supply zone around $174-$175, with repeated rejection signals forming at this level. This range coincides with a visible range high-volume node, indicating strong resistance from previous price memory.
---
🔑 Key Levels:
🔵 Resistance Zone: $173.80 – $175.30 (heavy supply)
🟦 Mid-Range Support: $141.50 – previously a strong flip zone
🟫 Demand Zone: $103 – $116 (historical demand, strong buying interest)
---
🔁 Market Structure:
Price has rallied significantly from March lows near $100.
The current price action is consolidating below resistance, with bearish wicks suggesting exhaustion.
A potential double top may be forming at this resistance.
---
📉 Bearish Scenario:
If SOL breaks below $170 with strong volume: ➡️ First Target: $141.50 (previous support)
➡️ Second Target: $116.40
➡️ Final Support: $103 demand zone
---
🔍 Watch For:
✅ Bearish confirmation candle closing under $170
✅ Increase in sell volume
✅ MACD/RSI divergence (check your indicators)
✅ Economic catalysts (FOMC, CPI, etc. due in early June as shown with US flags)
---
🔄 Bullish Invalidation:
A clean breakout and close above $175.50 with volume could invalidate this short thesis and potentially lead to a continuation toward $190+.
---
📢 What do you think? Will SOL dump or pump from here?
🧠 Drop your thoughts and setups in the comments!
❤️ Like & Follow for more TA like this every week!
#Solana #SOLUSD #CryptoTrading #SupplyAndDemand #LuxAlgo #BearishReversal #PriceAction #SwingTrading #Altcoins #TradingView
---
🔑 Key Levels:
🔵 Resistance Zone: $173.80 – $175.30 (heavy supply)
🟦 Mid-Range Support: $141.50 – previously a strong flip zone
🟫 Demand Zone: $103 – $116 (historical demand, strong buying interest)
---
🔁 Market Structure:
Price has rallied significantly from March lows near $100.
The current price action is consolidating below resistance, with bearish wicks suggesting exhaustion.
A potential double top may be forming at this resistance.
---
📉 Bearish Scenario:
If SOL breaks below $170 with strong volume: ➡️ First Target: $141.50 (previous support)
➡️ Second Target: $116.40
➡️ Final Support: $103 demand zone
---
🔍 Watch For:
✅ Bearish confirmation candle closing under $170
✅ Increase in sell volume
✅ MACD/RSI divergence (check your indicators)
✅ Economic catalysts (FOMC, CPI, etc. due in early June as shown with US flags)
---
🔄 Bullish Invalidation:
A clean breakout and close above $175.50 with volume could invalidate this short thesis and potentially lead to a continuation toward $190+.
---
📢 What do you think? Will SOL dump or pump from here?
🧠 Drop your thoughts and setups in the comments!
❤️ Like & Follow for more TA like this every week!
#Solana #SOLUSD #CryptoTrading #SupplyAndDemand #LuxAlgo #BearishReversal #PriceAction #SwingTrading #Altcoins #TradingView
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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.