🚀 SOL Showing Consolidation Before Breakout? | Technical View
Solana (SOL) is currently trading in a tight range after a recent impulsive move. The daily candlestick chart shows smaller candle bodies with long wicks, signaling market indecision and volatility compression.
📊 Price Action Overview
Recent candles indicate buyers are defending the short-term support zone, forming higher lows on lower timeframes. However, repeated upper wick rejections near resistance show sellers are still active.
This type of compression often leads to a strong breakout once volume expands.
🔑 Key Levels to Watch
Support: 180 – 185
Resistance: 210 – 220
A strong bullish engulfing candle closing above resistance could confirm upside continuation.
If price breaks below support with strong bearish volume, downside pressure may increase.
📈 Market Outlook
Short-term bias remains neutral while SOL trades inside the range. Breakout confirmation with volume will likely determine the next major direction.
Traders should monitor candle closes near key levels for momentum confirmation.
