SOL Breakout & Retest SetupSOL has broken out of a long-term descending trendline (red) and is currently trading at $171.49. The price has also reclaimed the ascending support trendline (blue), suggesting strong bullish momentum.
🔸 Key Support Zone at $150–$160:
This area aligns with a potential retest of the broken trendline and ascending support confluence. A successful retest here would confirm the breakout and offer a strong entry zone.
🔸 Upside Target: $250+
Once the retest confirms support and buyers step in, SOL could begin a strong upward move toward $200, with $250+ as a mid-term target.
🔸 Risk Level at $140:
A daily close below $140 would invalidate this bullish structure and shift the bias to bearish.
🔸 Action Plan:
Monitor for a pullback toward $150–$160
Look for bullish confirmation (wicks, volume, bullish engulfing) before entering
First major resistance around $200, followed by $225–$250
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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.
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.