$SOL Breakout & Retest Setup

SOL Breakout & Retest Setup

SOL has broken out of a long-term descending trendline (red) and is currently trading at $171.49. The price has also reclaimed the ascending support trendline (blue), suggesting strong bullish momentum.

🔸 Key Support Zone at $150–$160:
This area aligns with a potential retest of the broken trendline and ascending support confluence. A successful retest here would confirm the breakout and offer a strong entry zone.

🔸 Upside Target: $250+
Once the retest confirms support and buyers step in, SOL could begin a strong upward move toward $200, with $250+ as a mid-term target.

🔸 Risk Level at $140:
A daily close below $140 would invalidate this bullish structure and shift the bias to bearish.

🔸 Action Plan:

Monitor for a pullback toward $150–$160

Look for bullish confirmation (wicks, volume, bullish engulfing) before entering

First major resistance around $200, followed by $225–$250