SOLANA ($SOL ) 🚨
Current Situation:
SOL has broken out of a falling wedge pattern (bullish signal).
Price now faces resistance at the 200 EMA.
Key Scenarios:
1. Bullish Confirmation:
A sustained breakout *above the 200 EMA (with volume) would confirm a trend reversal.
2. Rejection Risk:
Failure to hold above the 200 EMA may trigger a retest of the wedge’s breakout level.
Trading Considerations:
Confirmation: Wait for a daily close above/below the 200 EMA before acting.
Why It Matters:
The 200 EMA often acts as a momentum filter. A clean breakout could attract institutional interest, while a rejection may signal lingering bearish pressure.