My current outlook remains bearish for $SOL unless the market proves otherwise.


Here's what I'm seeing:
✓Break of Structure (BOS) confirms that sellers are still in control and the previous bullish structure has already been invalidated.
✓ Price is currently retracing into a rising wedge, which is typically a bearish continuation pattern when it forms during a downtrend.
✓ I have 2–3 stacked resistance zones above the current price:
•Initial horizontal resistance.
•The upper boundary of the wedge.
•A higher supply/resistance zone where previous selling pressure originated.
My expectation is for the price to tap one of these resistance confluences @77.5-80, print a rejection, and continue its bearish move toward the previous lows.
Invalidation: A decisive breakout above all major resistance zones, followed by a successful retest, would invalidate this bearish thesis and force this to be reassessed.
NFA !
SOL0.00%
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned