🔹SOL/USDT – 4H Chart Technical Outlook
▪️Market Context:
Solana (SOL) is displaying a shift in momentum from bullish to bearish, following a breakdown from a prolonged consolidation phase. Price is currently hovering around $152.71 and forming a potential lower high structure below a key resistance area.
▪️Key Levels & Zones:
* Support Turned Resistance: $158-$161
* Immediate Support Area: $144-$148
* Next Target Support: $126-$128
* Demand Zone (Bull Run Origin): $121-$126
▪️Price Action Analysis:
The recent breakdown below the consolidation zone has led price into a former support area, which now acts as resistance. A failed retest of this zone (noted with a red arrow) has prompted renewed bearish pressure.
▪️The projected structure suggests a continuation pattern forming. Price is expected to:
1. Reject from the current resistance (lower high formation).
2. Break down from the $144-$148 support area.
3. Head toward the broader demand zone at $126.
▪️Bearish Bias:
* Price is below a major support-turned-resistance zone.
* Momentum is weak, supported by volume spikes during down moves.
* Confirmation of a lower high strengthens the bearish outlook.
▪️Conclusion:
Unless bulls reclaim the $158-$161 zone convincingly, SOL is likely to trend lower in the short term. Key bearish targets lie between $126-$128, where previous demand sparked a strong rally. Traders may look for confirmation via breakdowns and retests for potential short setups.
🔹Community Insight:
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