🚀 $SOL Technical Breakout in Play – Analysis by Bili Jutt 📈
Market Structure Insight:
Solana ($SOL) is currently testing the upper boundary of a symmetrical triangle pattern on the daily timeframe, signaling a possible breakout scenario. The price action is compressing near this resistance zone, creating tension for a potential explosive move.
📊 Key Technical Elements:
The price is moving toward the 50-day Moving Average (MA 50), which may act as dynamic resistance.
A clean breakout above the descending trendline could open the gates for a powerful bullish rally.
🎯 Target Zones on Breakout:
Target 1: $179
Target 2: $205
Target 3: $224
Target 4: $265
🔍 My Observation:
The symmetrical triangle represents market indecision — but compression near the upper boundary, especially with price closing in on MA 50, is often the calm before the storm. If volume confirms the move, a breakout can gain serious momentum.
🧠 Strategy Note:
“I’m watching for a daily candle close above triangle resistance and MA 50. That’s my green light. No breakout, no entry — simple as that.”
📌 Final Thoughts:
This is a classic breakout setup. Risk should be tightly managed below the triangle support line. Patience is key; let the price prove itself.
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