Current Price: $177.75
Chart Basis: 1D (Binance)
Trend Bias: Bullish Continuation after Breakout
📌 Trade Setup Summary:
Entry Zone: Current levels ($175–$178) on retest confirmation
Stop Loss: Below $149 (invalidate breakout + trendline)
Take Profit Target: $225–$230 (strong resistance zone from previous breakdown)
📈 Technical Breakdown:
✅ Price broke above a descending trendline (mid-term resistance)
✅ Higher low structure forming a rising wedge with strong momentum
✅ Volume supports the breakout—suggesting sustainable bullish continuation
✅ Clear resistance target around $226–$230 zone from previous top supply area
📊 Risk/Reward Tip:
Risk: ~15% (SL near $149)
Reward: ~29% (TP near $230)
R:R Ratio: ~1:2 ✅ Favorable setup
🧠 Reason to Go Long:
Solana just confirmed a breakout from both a falling trendline and a local consolidation. The breakout candle holds above previous resistance, flipping it into support. The trendline confluence with horizontal demand adds more confidence in continuation toward the $226 level.
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