$SOL – Technical Analysis: Ready for a Breakout or Correction?

Solana ($SOL ) is trading around $130.24, showing signs of a possible reversal after forming a 'falling wedge' pattern, which often heralds a bullish impulse.

Key Levels:

• Support: $125.00

• Resistance: $135.00

Technical Indicators:

• RSI: approaching the overbought zone, which may indicate a potential correction.

• MACD: shows a bullish cross, supporting growth potential.

Trading Strategy:

• Entry: $130.00 – $132.00

• Target: $140.00

• Stop-loss: $125.00

If the price breaks the resistance level of $135.00 with increased trading volume, it may confirm the beginning of a new upward trend. However, considering the current RSI levels, one should be prepared for a possible short-term correction.

Watch the trading volume and price behavior at key support and resistance levels to confirm further movement direction.

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