Categories: Market

SOL is moving towards the end of the consolidation pattern, will there be a big step ahead?

  • Key Support Level: $ 142
  • Key Resistance: $ 170

Solana (SOL) has been consolidating in a symmetrical triangle since September 9 when it hit an all-time high of $ 216. SOL is approaching the top of the pattern and appears ready to leave at any time. The battle between bulls and bears will be decided when price breaks critical resistance ($ 170) or support ($ 140).

Daily SOL / USDT chart | Source: Tradingview

Technical indicators

Volume: Volume has not changed since price consolidation within this pattern. This is consistent with accumulation and is usually followed by a surge in volume when price breaks out of a zone of consolidation.

RSI: The RSI is showing a slight upward trend as it hits higher lows. However, a higher high must also be printed for the uptrend to be confirmed.

MACD: The MACD histogram is increasing, but it has not yet made a bullish cross. Once that happens the trend could turn positive, especially if price breaks above the triangle pattern.

Daily SOL / USDT chart | Source: Tradingview

Perspectives

Neutral. It is best to wait a pause above or below the triangle before starting a position. While there are some early signs that the SOL might show up, the trend needs to be confirmed with a clear breakout above the triangle.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

SN_Nour

According to Cryptopotato

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

CoinX

Recent Posts

UK Pension Fund Cartwright Encourages 3% Allocation to Bitcoin Investment

UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…

49 mins ago

Crypto PAC Fairshake Continues to Boost 2026 Election With Support from a16z

a16z and Coinbase have pledged substantial funds to crypto PAC Fairshake, aiming to support crypto-friendly…

2 hours ago

Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says

Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…

5 hours ago

Dogecoin Price Prediction: Will DOGE Ever Hit $0.7 Again? Why ETFSwap (ETFS) Is The Best Alternative For 100x Gains

Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…

8 hours ago

This website uses cookies.