SOL at a Make-or-Break Moment — Trendline Support Under Fire!
Solana’s price action is reaching a critical decision point after weeks of bullish momentum. Let’s break it down:
Structure & Trendlines:
The red ascending trendline from the $95.26 swing low has been the backbone of SOL’s rally since April. Price is now sitting directly on it, and this level is absolutely crucial.
A daily close below this trendline would break bullish structure and could trigger deeper corrective movement.
Meanwhile, the yellow rising wedge pattern is still in play. The rejection at $189.99 — the top of this wedge — confirms strong dynamic resistance overhead.
Key Horizontal Levels to Watch:
$189.99 – Local resistance and previous rally top. Price got firmly rejected here.
$175–$180 – Minor resistance zone. This level previously acted as resistance before the last breakout. Watch for potential rejection or reclaim.
$139.77 – Major support zone. This marks a key SR flip and would be the next target if the trendline fails.
$114.66 & $89.55 – Deep supports. Not in play unless the structure fully breaks down, but critical to keep in view.
Price Action Bias:
The current pullback from $190 looks orderly and corrective, not impulsive — a sign that bulls may still be in control if the trendline holds.
We’re at an inflection point:
Hold + bounce: Look for a swift reclaim of $175–$180 — that would restore bullish momentum.
Break + daily close below red trendline: Sets up a drop toward $139.77, a structurally significant and psychological support level.
Also, the rising wedge structure and flattening momentum after higher highs are classic signs of potential exhaustion. While not a guaranteed breakdown, this setup calls for caution, especially in the absence of strong volume support.
TL;DR:
#solana is testing its primary trendline from $95.26 — this is a make-or-break level. Bulls need to step in now or risk losing control of the trend. Keep a close eye on $175–$180 reclaim or breakdown toward $139.77.
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