📊 SOL Weekly Chart Analysis
$SOL remains under pressure on the weekly timeframe after losing a major support zone around $120-$130, which has now turned into resistance.
Key observations:
🔹 Price is trading below the 50-week EMA.
🔹 Recent candles show consolidation rather than strong bullish recovery.
🔹 Weekly market structure continues to print lower highs.
Bullish scenario:
✅ Reclaim the $120-$130 zone.
✅ Weekly close above the 50 EMA.
✅ Successful retest of that area as support.
Bearish scenario:
⚠️ Failure to break above resistance may keep SOL ranging near current levels or revisiting recent lows.
My focus is not on predicting the next move but on watching how price reacts around key levels. Markets usually reward patience more than prediction.
What's your outlook on $SOL for the next few months?