The breakdown from the rising wedge is a bearish signal, suggesting a potential continuation of the downtrend.
Immediate Support: The next strong support lies around $181, which aligns with both the 200-day EMA and the ascending trendline support. This confluence zone will be crucial in determining if the bulls can defend the uptrend.
Resistance Levels: On the upside, resistance is seen near $220, which was the lower boundary of the wedge and may now act as resistance. Stronger resistance remains around $240–260.
Outlook: If SOL holds the $180 support, it may attempt a rebound. However, a breakdown below this level could accelerate bearish momentum, targeting the $150–160 range.
Immediate Support: The next strong support lies around $181, which aligns with both the 200-day EMA and the ascending trendline support. This confluence zone will be crucial in determining if the bulls can defend the uptrend.
Resistance Levels: On the upside, resistance is seen near $220, which was the lower boundary of the wedge and may now act as resistance. Stronger resistance remains around $240–260.
Outlook: If SOL holds the $180 support, it may attempt a rebound. However, a breakdown below this level could accelerate bearish momentum, targeting the $150–160 range.
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