$SOL Coiling at Key Resistance – Breakout Setup or Bull Trap?
SOL is trading at $191.66, up +6.04% on the day after a clean climb from $177 support. Price is now hovering just below $193 resistance, where multiple wicks have formed. A breakout could trigger momentum acceleration, but caution is warranted near key levels.
Key Levels to Watch
Resistance: $193.00 – A clean break above this level may initiate:
• Target 1: $198.00
• Target 2: $205.00
Support: $188.50 – A breakdown from here could shift momentum toward:
• Target 1: $183.00
• Target 2: $177.00
Volume Outlook: Volume is steady, but not yet surging—suggesting a waiting game between bulls and sellers. Price action remains in favor of buyers as long as $188 holds firm.
This is a classic tight-range breakout zone—wait for confirmation before deploying size.