SOL/USDT – Breakout Confirmation & Bullish Momentum Building
The downtrend on the 4H chart has finally been broken signaling a potential shift in market sentiment for SOL/USDT After weeks of declining price action within a descending channel we now see a clear breakout above the trendline supported by a higher low structure—a classic sign of reversal
Key Observations:
Breakout from the descending channel with strong bullish candles
Retest likely Price may revisit the trendline or horizontal support zone around $122.80–$136.20 before continuing upward
Bullish targets $180.00 (local resistance) $167.00 (major resistance) and potentially $180.00 if momentum continues
Support zones to watch $122.80 and $112.30 A breakdown below these levels would invalidate the bullish setup
Two possible bullish scenarios:
1. A successful retest followed by continuation towards $147.50 and higher
2. Immediate breakout continuation with brief consolidations along the way
Bias Bullish as long as the price holds above $122.80
Always manage your risk wisely and monitor price behavior near key levels The setup looks promising but confirmation is key
The downtrend on the 4H chart has finally been broken signaling a potential shift in market sentiment for SOL/USDT After weeks of declining price action within a descending channel we now see a clear breakout above the trendline supported by a higher low structure—a classic sign of reversal
Key Observations:
Breakout from the descending channel with strong bullish candles
Retest likely Price may revisit the trendline or horizontal support zone around $122.80–$136.20 before continuing upward
Bullish targets $180.00 (local resistance) $167.00 (major resistance) and potentially $180.00 if momentum continues
Support zones to watch $122.80 and $112.30 A breakdown below these levels would invalidate the bullish setup
Two possible bullish scenarios:
1. A successful retest followed by continuation towards $147.50 and higher
2. Immediate breakout continuation with brief consolidations along the way
Bias Bullish as long as the price holds above $122.80
Always manage your risk wisely and monitor price behavior near key levels The setup looks promising but confirmation is key
Trade active
Note
The market made 3270+pips in this trade move!Note
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Related publications
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.