📈 Solana Coiling Up: Is $SOL Primed for a Major Breakout?! 🚀
Solana ($SOL) is showing strong recovery from $160 and is currently consolidating around the $168 mark. Bulls are eyeing a crucial move above the $172 resistance!
Why This Matters:
* Strong Bounce: SOL found solid support above $160, signaling renewed buyer interest.
* Trend Line Break: A bearish trend line at $167 on the hourly chart has been breached, suggesting momentum is shifting.
* Key Resistance: The $172 level (76.4% Fib retracement) is the immediate hurdle. A clean break could open doors to $176, $180, and potentially $192, even aiming for $200!
What to Watch For:
* Upside Potential: If $172 breaks, targets are $176, $180, and possibly higher to $192 and $200.
* Downside Risk: Failure to break $172 could lead to a retest of $168, then $165. A close below $162 might see it drop towards $150.
Technical Indicators:
* Hourly MACD: Currently in the positive zone, but losing some pace – keep an eye on this!
* Hourly RSI: Holding above 50, indicating bullish sentiment.
Solana is at a pivotal point! What do you think, will SOL surge or consolidate further? Share your predictions below! 👇
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