Solana Trend Analysis:
1 Primary trend: Bullish (higher highs and higher lows from early April to late April)
Recent action: Price is currently consolidating after forming a local top near $157
2. Key Support and Resistance Zones:
Resistance Zones:
$157: Recent swing high, tested multiple times. Strong resistance.
$150–151: Minor resistance where price faced rejection recently.
Support Zones:
$145: Intraday support (24h low), holding well for now.
$138–140: Key swing support (tested mid-April)
$128–130: Major demand zone from early April (trend start base)
3. Breakout Structure:
Previous breakout: Clean breakout around $128, retested, then continuation to $157.
Current status: Price consolidating between $145–$157, forming a range or potential bullish flag/pennant on lower timeframes.
4. Candlestick and Price Action Analysis:
Price is printing lower highs near $157, suggesting seller pressure
However, strong wicks on the downside near $145 show buyer defense
Volume declining: Market waiting for a breakout either side
5. Liquidity Zones:
Above $157: Thin liquidity → potential for sharp upside move (target $165–170)
Below $145: Liquidity sweep possible toward $138 or $130 (trap and reverse setup)
6. Entry/Exit Scenarios:
Bullish Setup:
Buy breakout above $157 with confirmation candle (target $165, SL: $150)
Buy near $138–140 support zone (target: back to $150–157, SL: $134)
Bearish Setup:
Short breakdown below $145 with volume (target: $138, SL: $148)
Short from $157 resistance if rejected again (tight SL above 158)
