SOLUSD ANALYSIS

Solana (SOL/USD) is in a consolidation phase within a range on the H4 timeframe, repeatedly taking support from its 200 EMA. This suggests a potential breakout scenario. 🚀

Possible Trade Setups:
Breakout Above the Box (Bullish Scenario)

If SOL/USD breaks the resistance of the consolidation range with strong volume, it could trigger an upward momentum.
Targets: Measure the height of the box and project it upwards.
Confirmation: Look for a candle close above the range + increased volume.
Breakdown Below the Box (Bearish Scenario)

If SOL/USD breaks below the support of the box and the 200 EMA, it may lead to strong downward movement.
Targets: Similar to the bullish scenario, measure the box’s height and project it downward.
Confirmation: A candle close below the range with strong volume.
Key Things to Watch:
✅ Volume increase on breakout.
✅ Retest of the breakout level (flip of support/resistance).
✅ Market sentiment and BTC movement (as SOL is correlated).