Solana has recently completed its 5-wave impulsive rise, and now a correction phase appears to be underway. Notably, a diamond top formation has formed and already broken to the downside, further supporting the short-term bearish outlook.
As long as SOL trades below the $180 resistance, this corrective scenario remains valid.
I currently do not expect a drop below the $146 support zone, making this a structured micro pullback within a larger bullish macro trend.
This setup offers opportunities for both short-term short and long entries, depending on how the price reacts near key levels. While the macro structure and fundamentals remain highly bullish for Solana, this correction could provide an ideal re-entry point before the next major leg up.
— Thanks for reading.
As long as SOL trades below the $180 resistance, this corrective scenario remains valid.
I currently do not expect a drop below the $146 support zone, making this a structured micro pullback within a larger bullish macro trend.
This setup offers opportunities for both short-term short and long entries, depending on how the price reacts near key levels. While the macro structure and fundamentals remain highly bullish for Solana, this correction could provide an ideal re-entry point before the next major leg up.
— Thanks for reading.
Trade active
TP 1 is hit. SOL will get a reachtion from around here. If we don't see a change of character in coming days, 146 is still valid.Trade closed: target reached
Go long above $162.
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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.