SOL/USDT Analysis – Bullish Breakout from Consolidation
Solana (SOL) has broken out of its recent consolidation phase, currently trading at $175.42, up +4.35% on the 4-hour chart. After forming a strong base near the $155–160 zone, SOL has rallied sharply and just touched a new local high at $175.46.
Price action has now moved above all major EMAs:
EMA(34): $168.40
EMA(89): $171.76
EMA(146): $171.58
EMA(200): $170.12
This alignment of EMAs below the current price suggests the start of a potential bullish trend. The MACD is positive and increasing, with a growing gap between the MACD and signal line, signaling upward momentum. The RSI(6) has climbed to 73.79, indicating strong buying pressure but approaching overbought territory.
Volume has also surged, confirming that this move is backed by strong market participation. If SOL can hold above the $171–$173 support zone, the next key resistance lies around $179.90.
In short, SOL is showing strength and may continue its bullish path. Traders should watch for a retest of support or breakout continuation.