SOLUSDT

[cryptobro]

Solana against the U.S. Dollar on the 1-hour timeframe, with several technical elements highlighted to visualize a potential bearish reversal setup

Overall Structure

The price recently climbed into a rising wedge pattern, indicated by two converging trendlines. These trendlines slope upward but gradually tighten, showing weakening bullish momentum as the price attempts to push higher. The rising wedge is often considered a bearish reversal pattern, especially when it forms near a strong resistance area.

Resistance Zone

At the top of the wedge, there is a clearly marked resistance zone between approximately $145 and $147.50. This zone is shaded in red, representing a potential area where buyers might exhaust and sellers begin to dominate the chart illustrates a possible fake out or final push upward, where the price momentarily spikes above the wedge before sharply falling. This pattern often traps late buyers and triggers a strong downward move.

Support Levels

Two key support zones are marked:

1st Support: Around 132
2nd Support; Around 128

These zones represent areas where the price may temporarily pause or consolidate during the decline.

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[Nahid Hossen]

SOL price action stays impressive—dip buyers remain active.

[Abdul Khan]

Watching liquidity pockets here for the next decisive move.