Hi everyone, let's break down this critical setup on the SOLUSDT 30-minute chart. What we are seeing is a classic technical pattern known as a descending triangle. Notice how the price is making a series of lower highs (the descending trendline) while repeatedly testing a flat support base around the $201 level. This pattern indicates that sellers are becoming progressively more aggressive, while buyers are just barely holding the line. The price is now being squeezed into the corner of the triangle, which usually means a sharp, decisive move is coming very soon.
From a trader's perspective, this is a bearish signal. Descending triangles most often resolve with a breakdown below the horizontal support. Therefore, trying to buy at the $201 support is a very high-risk trade. The smarter play is to wait for confirmation. A firm 30-minute candle close below $201 would confirm the breakdown and could open the door for a quick move down towards the next major support area around the
199−199−200 mark. A breakout to the upside is less likely but would invalidate this bearish setup, BUT IF YOU'RE A HOLDER THIS DOWN SEEMS NICE TO YOU. let's advice you about this.
Now, for our long-term holders asking, "Is it time to buy the dip?" 50/50% and my advice is to practice patience. While the price is lower, this bearish pattern suggests that an even better dip might be just around the corner. A potential breakdown could give you the opportunity to accumulate SOL at a more favorable price near the stronger support of $200. Buying right before a potential breakdown is risky. Let the market make its move first, and then react. As always, this is not financial advice. Know your strategy, manage your risk, and stay safe.