🚀 Solana (SOL) analysis – Is a major breakout approaching?
Current price: $176.71
🧠 Precise technical signals:
🔹 After reaching a peak of $184.67, clear upper wicks started to appear → indicating increasing selling pressure.
🔹 However, the candles are still closing above the moving averages, especially MA25 at $171.98 — indicating that the uptrend is still dominant.
🔹 Trading volume on pullbacks is low → there is no real intention to exit the market, just natural corrections.
🕯️ Candle behavior:
✅ Consecutive candles with higher lows and medium bodies → A classic model for pre-explosion consolidation.
✅ Several bullish reversal candles (hammer candles) appearing at support areas during each pullback — indicates active buyers.
✅ The appearance of a large green candle on July 17 with strong trading volume → A signal for potential institutional accumulation.
📊 Important areas to monitor:
📍 Strong support: $171 – $174 → A dynamic support level intersecting with MA25.
📍 The most important resistance: $182 – $185 → A strong close above it will push the price towards $200.
📍 MA99: at $159.7 → Long-term support, not recently tested.
📌 Summary:
Solana shows strong technical behavior in the short term and appears to be in an accumulation phase before breaking critical resistance.
As long as the price stays above $171 and is supported by volume, a breakout above $185 may just be a matter of time.
Next target? Technically: $195 – $200
But all eyes are now on the close of the 4-hour candle above $182 to confirm the breakout.
