SOL/USD Technical Review
Support around $178 (20-day EMA) is holding the price, indicating high buying interest.
The key resistance level is $185–$189. A breakout of this range will open the way to targets of $200–206, possibly even $220 if the momentum continues.
Pattern formation: an upward reversal from the $160 zone (lower Bollinger band + Fibonacci) is recorded, which completes the ABC correction and launches a new wave impulse. Upside potential is towards $180.
Trend and on-chain indicators: a decrease in the balance on exchanges, an increase in TVL and growing institutional interest (ETF) create a solid base for moving higher.