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š Market Overview (Daily)
Price & Movement
Current price: ~$153.75
Intraday range: $149.61 ā $155.12
24-hour gain: ~+2ā3% based on major data platforms
Support & Resistance
Sitting near a critical **symmetrical triangle pattern (approx. $150ā$154)**
Key EMAs (20ā & 50āday) now cluster in this zoneārecently reclaimed
Price Targets
Bullish breakout: Could aim for $162ā$171 shortāterm if resistance clears
Upside potential: Some expect a 12ā15% July rally to $165ā$175
Extended forecast: Optimistic analysts see $200+ by month-end on strong institutional demand
Bearish Scenario
A drop back below EMAs (~$148ā$150) could trigger retreat toward $137ā$140
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š Analysis Summary
Chart Setup: On the daily chart, SOL is compressing within a symmetrical triangle between $150ā$154, supported by rebuilt 20ā/50āday EMAsāsetting up a classic breakout scenario .
Bull Catalyst: A decisive candle above $154ā$156, especially if backed by volume, would signal bullish continuation targeting $165ā$175, and potentially even $200 if institutional flows persist .
Risk Alert: Failure to maintain $150 support could fall toward $137ā$140, confirming a bearish breakdown .
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š§ What to Watch Next
1. **$154ā$157 zone** ā Breakout above could spark strong upside momentum.
2. Volume & EMAs ā Rising volume alongside EMA support signals trend shift.
3. Macro & ETF news ā SEC guidance on crypto and Solana ETF rollout may drive institutional interest .
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ā Bottom Line
Solana is at a pivotal point in its daily patternācompressed with critical EMA support and testing a resistance band. A break above $154 with conviction could open doors to mid-$160s or higher, while a breakdown risks a fallback to the low $140s. Keep an eye on volume, nearby technical levels, and regulatory developments around crypto/institutional products.
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