SOL at Weekly Pivot: Mixed Signals Ahead š
Solana is currently navigating a critical juncture near its weekly pivot and 200 EMA. After breaking out of a wedge pattern, SOL risks a sell-off towards $120 but remains above key support, keeping the longer-term bullish wave 5 target of $600 intact. The weekly RSI signals bearish momentum, yet price action above the pivot and EMA tempers immediate downside fears. A push back into the wedge could ignite renewed rallies.
With $170 as a crucial pivot level, cautious traders should watch for confirmation before betting on a major breakout or deeper correction. Safe trading is advised.