Solana Technical Breakout
Setup - Can Bulls Reclaim $190?
SOL/TETHERUS Binance
◆ SOL/USDT - Technical Analysis (4H Chart)
Solana (SOL) is currently rebounding from a well-defined demand zone around $140-$146, showing signs of bullish momentum after a sharp decline from the supply zone near $165.
Key observations:
Downward trendline was broken earlier, confirming a temporary bullish structure before price faced rejection at the supply zone.
Demand zone for bull run is now being respected, as shown by the strong reaction and recovery candle.
Price may form a higher low in this zone, setting the stage for a potential move toward the next resistance areas.
Upside targets:
First resistance/supply area: $165-$174
Extended target zone: $182-$190
A confirmed bounce from this demand area could open the way for a bullish continuation, while a drop below $140 would invalidate the setup. Volume confirmation and candle structure will be key to watch.
◆ Community Insight:
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