Solana prices jump 18%: $SOL surged to around $183.37, driven by recent technological upgrades (Firedancer) and increasing institutional interest. RSI remains in neutral territory.
Bullish signals building: Market analysts note rising buying pressure and smarter derivatives activity, suggesting SOL could break above the $190 level imminently.
Extremely aggressive bullish projection: Some technical forecasts expect a massive breakout, with SOL potentially aiming for a target as high as $10,000 based on long-term chart patterns. However, such speculation should be approached with caution.
Solana Price & Chart Snapshot
Current Price: ~$174.79
Todayās Range: High ~186.61, Low ~173.53
Trend: Recovering from mid-$160 support; positive but not overbought.
Technical Analysis & Levels to Watch
Support & Resistance
Support Zone: Around $160-$165, anchored by the 100- and 200-day EMAs. Holds above this area have spurred recent bullish moves.
Immediate Resistance: Near $180, with breakouts potentially targeting $182ā$195.
Chart Patterns & Indicators
Inverse Head and Shoulders: A daily chart pattern suggests bullish reversal; breakout above the neckline could project a rally toward $247.71 in August.
Cup and Handle: A longer-term breakout above $200 could validate a ācup and handleā setup with aggressive upside targets up to $1,315. Bear in mind, this is a high-risk scenario.
Technical Report: A support bounce from $160 could signal upswing continuation.
Short-Term Trade Suggestion
Bullish Scenario (Aggressive)
Entry: On a daily close above $180ā$182, enter a long position.
Target: Gradually scale out between $182 and $195, with optional stretch target around $205 if momentum is strong.
Stop Loss: Place stop below $160-$165 to guard against breakdown.
Conservative (Lower-Risk)
Entry: Wait for a bounce off $160-$165 region confirming support.
Target: Ride the rebound toward $175-$180, then reassess.
Stop Loss: Just below $160.
#solana
Bullish signals building: Market analysts note rising buying pressure and smarter derivatives activity, suggesting SOL could break above the $190 level imminently.
Extremely aggressive bullish projection: Some technical forecasts expect a massive breakout, with SOL potentially aiming for a target as high as $10,000 based on long-term chart patterns. However, such speculation should be approached with caution.
Solana Price & Chart Snapshot
Current Price: ~$174.79
Todayās Range: High ~186.61, Low ~173.53
Trend: Recovering from mid-$160 support; positive but not overbought.
Technical Analysis & Levels to Watch
Support & Resistance
Support Zone: Around $160-$165, anchored by the 100- and 200-day EMAs. Holds above this area have spurred recent bullish moves.
Immediate Resistance: Near $180, with breakouts potentially targeting $182ā$195.
Chart Patterns & Indicators
Inverse Head and Shoulders: A daily chart pattern suggests bullish reversal; breakout above the neckline could project a rally toward $247.71 in August.
Cup and Handle: A longer-term breakout above $200 could validate a ācup and handleā setup with aggressive upside targets up to $1,315. Bear in mind, this is a high-risk scenario.
Technical Report: A support bounce from $160 could signal upswing continuation.
Short-Term Trade Suggestion
Bullish Scenario (Aggressive)
Entry: On a daily close above $180ā$182, enter a long position.
Target: Gradually scale out between $182 and $195, with optional stretch target around $205 if momentum is strong.
Stop Loss: Place stop below $160-$165 to guard against breakdown.
Conservative (Lower-Risk)
Entry: Wait for a bounce off $160-$165 region confirming support.
Target: Ride the rebound toward $175-$180, then reassess.
Stop Loss: Just below $160.
#solana
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SOL
190.16
-5.15%