SOL/USDT (Daily Chart), Projections

Technical Analysis – SOL/USDT (Daily Chart)
Projection Pattern: Higher Highs (HH) and Higher Lows (HL)
Indicators: RSI Divergence, Alligator, Support/Resistance Levels

Solana (SOL) is currently in the early phase of a bullish structure, characterized by a Higher High (HH) and Higher Low (HL) sequence. This indicates a potential trend reversal from the previous bearish cycle to a bullish trend.

Key Observations:
HH-HL Structure:
The market printed a Higher High followed by a Higher Low, indicating buyers are gradually gaining control. The current price action suggests a probable continuation to the upside if the next impulse breaks above recent highs.

Buy Stop:
A breakout trade is anticipated if SOL breaks above the Buy Stop level (approximately $156–158), aligned with Alligator indicator resistance and horizontal resistance.

Stop Loss:
Positioned just below the HL zone near $144, offering protection if the bullish breakout fails.

Take Profit (TP1):
The first target is projected near $187.71, which aligns with a historical resistance zone and the next significant swing high.

Indicators:
RSI (Relative Strength Index):
The RSI is currently at 38.05, recovering from a previously oversold region. There are several bullish divergences marked earlier in the year, which preceded major upswings. The latest bullish setup may follow suit if the RSI continues upward.

Alligator Indicator:
The Alligator lines are converging, suggesting a potential breakout phase as market momentum consolidates. A clear expansion of the green (lips), red (teeth), and blue (jaw) lines will confirm trend direction.

Conclusion:
The chart sets up a bullish continuation scenario, contingent on a breakout above the buy stop zone (~$158). If confirmed, the price may rally toward the $187 level. However, a close below $144 would invalidate this setup, suggesting a reevaluation of market sentiment.