Solana (SOL) Breakout Setup – Golden Cross + Key Resistance at $181.23 🚀
Solana (SOL) is showing a strong bullish setup on the 4-hour chart, and traders should keep a close eye on the next move.
🔍 Technical Analysis for Solana (SOL/USDT)
1️⃣ Golden Cross Signal – The 50-day EMA has crossed above the 200-day EMA on the 4H timeframe, forming a Golden Cross, which is historically a strong bullish indicator in crypto trading.
2️⃣ Critical Resistance Level – SOL is approaching a major resistance at $181.23. This level has acted as a rejection zone before, so a confirmed breakout here could trigger a large upward rally.
3️⃣ Rising Trading Volume – Volume has been increasing, indicating strong buying pressure and growing market participation.
4️⃣ Bullish Targets – If Solana breaks and sustains above $181.23, the next upside targets are $190 and the psychological level of $200.
5️⃣ Positive Market Sentiment – With the overall crypto market recovering and altcoin demand increasing, SOL could attract more investors in the coming days.
💡 Trading Tip: Watch for a 4H candle close above $181.23 with strong volume before entering long positions. A stop-loss below the breakout level can help manage risk.
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