Solana is currently trading around $168.46, struggling to break and hold above the $173.44 supply zone. The recent price action suggests that buyers may be losing steam after a strong bullish run.
Key Levels to Watch:
$173.44 Supply Zone – Strong rejection zone. Multiple rejections hint at institutional selling or large profit-taking.
$139.56 Support Zone – This is my first downside target if we lose momentum.
$103.29 Demand Zone – Major demand and high-volume area. If SOL dips this low, bulls may defend hard.
Current Outlook: After forming a lower high, price is consolidating under resistance—a potential bearish setup. If we break below the current range with volume, it could trigger a cascade towards $140 and possibly lower.
Trade Plan:
Looking for short entries below $165 on confirmation (break + retest or bearish engulfing).
Buy zones around $139 and $103, depending on how price reacts.
What’s your Solana play from here? Are we heading for $200 or crashing back to $100?
Let’s discuss in the comments!
#Solana #SOLUSD #CryptoAnalysis #PriceAction #SupplyAndDemand #FrankFx #LuxAlgo
Key Levels to Watch:
$173.44 Supply Zone – Strong rejection zone. Multiple rejections hint at institutional selling or large profit-taking.
$139.56 Support Zone – This is my first downside target if we lose momentum.
$103.29 Demand Zone – Major demand and high-volume area. If SOL dips this low, bulls may defend hard.
Current Outlook: After forming a lower high, price is consolidating under resistance—a potential bearish setup. If we break below the current range with volume, it could trigger a cascade towards $140 and possibly lower.
Trade Plan:
Looking for short entries below $165 on confirmation (break + retest or bearish engulfing).
Buy zones around $139 and $103, depending on how price reacts.
What’s your Solana play from here? Are we heading for $200 or crashing back to $100?
Let’s discuss in the comments!
#Solana #SOLUSD #CryptoAnalysis #PriceAction #SupplyAndDemand #FrankFx #LuxAlgo
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.