$ETH SOL is currently trading around 134.88 USDT after a decline from its recent high near 170.00. The price has entered a consolidation phase between 130.00 and 145.00.
Key levels to watch:
- Support at 130.00, which has held multiple times. A break below could lead to a test of 125.00.
- Resistance at 145.00. A breakout above this level may target 155.00-160.00 next.
The price action shows lower highs since the 170.00 peak, suggesting bearish pressure remains. However, the sideways movement near 130.00 indicates potential accumulation.
For a bullish reversal, SOL needs to break and hold above 145.00 with increasing volume. For further downside, a close below 130.00 could accelerate selling toward 120.00.
Trading strategy:
- Wait for a confirmed breakout above 145.00 or breakdown below 130.00 before taking positions.
- Between 130.00-145.00, range-bound strategies may work until a clear direction emerges.
This is neutral price action analysis - always use stop losses and confirm with volume.$ETH