SOL forms bullish pattern, but hesitation remains
Solana is forming a classic cup-and-handle pattern on the weekly chart.
Price is now pushing toward key resistance at $200โ$210, after bouncing from $135.
At the moment, SOL trades at $170, slightly down 1.57% in the past 24 hours.
But the bullish setup is still valid โ a breakout above $200 could trigger a strong move higher.
โก Low Selling Pressure, But Weak Conviction
Exchange flows are balanced:
$148M in inflows vs. $149M in outflows
This shows investors are holding, not exiting, which usually supports bullish breakouts.
But the lack of heavy outflows also means weak confidence from sellers, leaving the breakout without strong backing yet.
โก Most Traders Are Bullish, But Itโs a Double-Edged Sword
On Binance, 70.53% of traders are long, with a Long/Short Ratio of 2.39
This shows clear bullish bias and could fuel a fast breakout if SOL crosses $200
However, such heavy longs can trigger liquidation spikes if the price pulls back.
โก Sentiment Still Negative, Crowd Remains Skeptical
Solanaโs Weighted Sentiment is at -0.46, showing overall caution among traders
Surprisingly, this could help:
Rallies that start with negative sentiment often last longer
But if SOL fails to break $200, this bearish mood could get even worse.
โก Retail Loses Interest, But That Might Be Good
Social volume and engagement are low, with dominance down to 3.74%
Solana is no longer in the retail spotlight, but quiet markets often set the stage for solid rallies
However, until hype returns, momentum may stay slow.
โก Conclusion: Bullish Chart, Cautious Crowd
Solana shows a strong technical setup, but the broader market is hesitant and watching from the sidelines.
A clear break above $200 could spark an aggressive rally, but until then, traders are playing it safe, waiting for more confirmation.
