SOL
SOLUSDT.P Solana is currently trading within a descending wedge pattern on the 4-hour chart, which is typically viewed as a bullish reversal structure.
The price action is compressing between the converging trendlines, suggesting a potential breakout may be on the horizon.
The current support zone between $164 and $167 is holding well and remains a critical area to watch.
A breakdown below this range could lead to a deeper correction toward the next support levels at $153.98, $151.91, and possibly $148.31.
Conversely, a breakout above the wedge resistance could signal a shift in momentum and continuation of the broader uptrend.
It is advised to wait for confirmation before entering any positions.
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