$SOL $SOLUSDT 4H Analysis – Zod Smoker Setup: Reversal or Crash? 🚀
Hey crypto crew! Diving into this SOL chart on Bybit's 4H timeframe
Chart Breakdown:
Descending Channel/Triangle: Price has been grinding lower in a tightening range since early Feb, forming lower highs (red trendline) and bouncing off supports around $75-80 (green line). Recent action shows a potential falling wedge – bullish reversal pattern if it breaks up.
Key Annotations: White down arrow suggests bearish pressure toward lower supports; blue up arrow points to breakout potential. Volume (bottom indicator) is picking up slightly on rebounds, hinting at accumulation.
Current Levels:
Price: ~$85 (down 1-2% today).
Support: $80 / $75-76 (critical floors – holding here could spark reversal).
Resistance: $88 / $92 (break these for upside momentum).
Indicators: RSI around 40 (cooling but not oversold yet), MACD showing early bullish divergence. Network metrics are strong – 148M daily transactions and $31M institutional inflows. SOL's ecosystem (RWA TVL at $1.66B) screams undervalued utility.
My Trade Bias: Leaning long if it holds $80 – entering around $82-85 with stop below $75. Targets: 1:1 RR to $90 initially.
Will SOL Reverse from $80 and Hit $90 or Crash? Analysis:
Bullish Case (60% prob – Reversal likely)
SOL holding $80+ during extreme fear.
Wicks bought aggressively, on-chain volume +22% (absorption sign).
Reclaim $88 → targets $91.40 Feb high, quick move to $90+, then $100 possible if BTC stable.
X traders see 70-90 → 150-200 longer term.
Bearish Case (Crash risk)
Break below $80 → flush to $70-75 or $60-67 (Fib levels).
Macro weakness could push lower; one analyst flags $36-57 capitulation zone.
But 755% YoY payment growth + strong fundamentals limit deep downside.
Overall Outlook
Reversal from current levels more probable than crash — unless BTC dumps hard.
Key watch: $80 support. Breakout targets $90 soon.
Bull or bear on SOL right now? Drop your view 👇
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