🧠 Technical Analysis – Daily Chart ($SOL USDT)
Pattern Observed:
A classic Falling Wedge pattern, which is a bullish reversal setup. The price is breaking out of a well-structured downward-curving wedge, indicating the possibility of a trend reversal to the upside.
✅ Bullish Signals:
Falling Wedge Pattern:
Characterized by converging downward-sloping trendlines.
Breakout from this pattern tends to be bullish, especially on a daily timeframe.
Price Action:
Price is testing the upper resistance of the wedge.
Small breakout candles hint at early accumulation.
Momentum Shift:
Lower selling volume during the wedge formation often precedes an upside breakout.
MACD or RSI (if available) would likely show bullish divergence here.
📈 Trade Signal – Long Setup
🎯 Entry Strategy (Aggressive):
Entry: Market buy around $132 – $135 (current range)
Stop Loss: Below $120 (below recent swing low inside wedge)
Target 1: $150 (minor resistance zone)
Target 2: $165 (trendline structure)
Target 3: $180–$190 (full wedge breakout move)
Risk:Reward ~ 1:2 or higher, depending on stop and targets.
⏳ Entry Strategy (Conservative):
Wait for a confirmed daily close above $138–$140 with volume.
Safer entry but potentially higher price.
🛑 Invalidation:
If price fails to break out and closes back inside the wedge or below $120 support, the bullish structure weakens.
🧭 Final Thoughts:
This is a high-probability swing setup due to the pattern, time frame, and breakout attempt.
Look for volume confirmation and watch BTC's movements—SOL tends to follow its lead.