Analysis of SOL/USDT in the current situation 👆👆🔥🔥
📊 Technical update for SOL/USDT (4-hour chart)
SOL is currently trading at $192.94 (-1.30%), showing signs of consolidation after a strong rally. Let’s break it down:
🔹 Ascending wedge pattern detected – the price is moving within an ascending wedge, which typically indicates potential weakness if support is broken.
🔹 Major support area: $185 – $187 → breaking below this range could lead to a deeper correction towards $165–170 levels.
🔹 Major resistance area: $205 – $215 → a strong supply zone where sellers previously entered. A clean breakout above this area could push SOL towards $230+.
🔹 Short-term outlook: the price is testing the wedge support. If buyers defend this level, we may see another test of $200+. Failure to hold may lead to a bearish breakdown.
⚖️ Trader's opinion:
Bullish scenario → holding above $187 and breaking $200+, focusing on $215+.
Bearish scenario → losing the wedge support, then $170 becomes the next demand area.
📌 Wait for confirmation before taking positions. The next four-hour candles will be critical for the direction.
Good luck 🤞 🍀 🤞
