#MarketRebound SOL Breakout: $85 Support Holding At Market
SOL is trading at $165.40 at market after breaking out of the 4H descending triangle earlier today. The $162 resistance that capped price for 3 weeks has now flipped to support, and that retest is holding on the current candle.
The confirmation is in the volume. We saw a 28% spike above the 20-day average on the breakout candle, and the pullback to $83 was met with buyers within the next two 4H candles. The 4H RSI also reset from 71 to 56 without losing the bullish structure, which means momentum is cooling but not reversing.
At market, the next upside target is $88 if $85 continues to hold as support. That level matches the March swing high and the measured move from the triangle pattern. On the downside, the invalidation is a 4H close below SOL
. Lose that and we’re likely heading back to the
#MarketRebound demand zone.
BTC is holding
$BTC .2K at market, which is giving altcoins room to run. ETH/SOL is also trending higher, so relative strength is favoring SOL in this rotation.
I’m watching the 4H close closely. A daily close above $88 strengthens the case for $180. A rejection at $87 would invalidate this setup.
#SOL #Solana
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