breakout likely if bulls step in
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Solana is sitting on a critical support level following a period of muted volatility and sideways consolidation. With multiple technical confluences now in play, the market appears primed for a decisive breakout,or breakdown. The current structure suggests that price is coiling, and the next move could mark a major directional shift. Solana (SOL) has shown signs of hesitation, yet the support zone continues to hold firm. This combination often precedes a volatility expansion, and Solana is approaching that inflection point. Traders should be watching closely, as the resolution of this range will offer clarity on the next trend direction. Key technical points, VWAP Support: The VWAP anchored from the cycle low is acting as dynamic support under current price action. 143 Daily Support: A high time frame level that has repeatedly held, providing strong market structure. Swing Low Structure: Price is respecting a cluster of key swing lows, forming a significant demand area SOLUSDT (4H), Source: Trading view. From a technical standpoint, Solana’s current chart positioning is notable. The anchored VWAP from the cycle low is sitting directly below current price and aligns with the 143 daily support level, creating a strong confluence zone. Additionally, multiple prior swing lows form a local demand cluster, suggesting this area has attracted buyers in the past. Despite this, price remains in no man’s land. Solana has not demonstrated impulsive follow-through in either direction. A decisive breakout above the current range highs could spark a run toward the next major resistance near the $170 region. Conversely, a failure to hold this support could trigger a liquidity sweep below, exposing the asset to a deeper pullback before any recovery attempt. It’s also worth noting the lack of volume accompanying recent moves. Without meaningful participation, any breakout risks becoming a false move or weak trend extension.…
Filed under: News - @ June 19, 2025 3:26 am