$SOL
Solana price has just left a corrective period inside a falling channel. The structure imposed low highs, repressing upside efforts. Rebounds were controlled by the sellers as liquidity gravitated to the channel base.
The break up, however, did not go decisively. Buyers were able to defend the $117.70 zone and cause a sharp turnaround. That reaction was the initial indication of exhaustion on the downside.
After the recovery, Solana price regained the channel midline and broke above the declining resistance. This change changed the dynamics of short-term control. The SOL market value is at $125 which is an indication that it has been accepted above the recent reaction lows.
At the time of press, SOL market valuation is trading around the old resistance of $129.81, which is currently a structural pivot.
RSI stands at 50.07, which is a sign of balance as opposed to weakness. This reading is in favor of stabilization, rather than excess. Meanwhile, price structure forms higher lows against horizontal resistance. Such an arrangement empowers the long-term SOL price prediction schemes.
Upside levels of $139.10 and $143.86 are technically active in case support is maintained. The long-term break of the price above $143.86 will provide the direct way to the zone of $150, which is characterized by the previous supply concentration and expansion of the price range.
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