🚨😳$SOL DID you All mis that🚨😳
1. Identify Breakout Point:
The breakout occurs when the price moves above the upper purple line, indicating a bullish trend.
2. Observe Price Movement:
- After the breakout above the upper purple line (around $144), the price shows a strong upward movement.
- The price then climbs steadily, showing consistent higher highs and higher lows, indicating a sustained bullish trend.
3. Determine Price Range:
- Upper Purple Line Breakout Price:Approximately $144.
- Yellow Line Level:Approximately $152.
4. Trend Characteristics:
- The upward movement from $144 to around $152 indicates a significant bullish trend.
- The trend demonstrates a positive momentum with increased buying pressure, likely driven by strong demand or positive market sentiment.
5. Volume and Indicators:
- Typically, a breakout is confirmed with increased trading volume, but this detail is not visible in the provided chart.
- Additional indicators such as Moving Averages, RSI, or MACD can provide further insights into the strength and sustainability of the trend.
6. Price Consolidation:
- Once the price reaches close to the yellow line ($152), it may face resistance, leading to a potential consolidation or pullback.
- The consolidation phase is crucial to determine if the price will break above the resistance or retrace to lower support levels.
Overall, the trend from the breakout of the upper purple line to the yellow line shows a strong upward momentum, moving from approximately $144 to $152. The price faces potential resistance around $152, where it may consolidate before deciding the next direction.
