SOL Eyes 40% Surge: Strong Technical PatternsKey Observations:
1. All-Time High (ATH): Marked at 259.59, indicating a significant resistance level.
2. Bullish Patterns Identified:
• Higher High (HH) and Higher Low (HL) Structure:
• This indicates a bullish market structure where price is making consistent higher highs and higher lows.
• Fair Value Gap (FVG):
• An imbalance or inefficiency in the price that could act as a magnet for price to revisit before continuation.
• Bullish Triangle Pattern:
• Suggests price consolidation within narrowing ranges, typically preceding a breakout to the upside.
3. Support Zone:
• A green box around the 175–180 region shows a strong demand zone where price could reverse upward if retested.
Projection:
• A breakout is expected either towards the resistance zone (near ATH) or lower if the support fails.
Actionable Steps:
• For Bulls:
• Watch for bullish confirmation (e.g., bullish engulfing candles) near the FVG/support zone.
• Target the ATH as the first major resistance, with a potential breakout higher.
• For Bears:
• Monitor price action for a break below 175. This could signal bearish momentum towards lower price targets.
DISCLAIMER- THIS IS FOR EDUCATIONAL PURPOSES ONLY, PLEASE DO YOUR RESEARCH BEFORE INVESTING
