Is $SOL comeback on? Here’s the case for SOL’s price to $250! - AMBCrypto Analytics

According to Ali Martinez’s comment on X, 

“The TD Sequential indicator is now showing a sell signal on the #Solana hourly chart, suggesting a potential dip to $135-$130. However, breaking the risk line at $146 would invalidate this signal, potentially driving $SOL up to $150-$166.”

The Fibonacci retracement levels on the chart support this outlook, with the 0.236-level at $135.21 and the 0.382-level at $129.98 acting as possible support zones. Traders might anticipate some consolidation or a pullback in these areas if the sell signal plays out as predicted.

However, SOL breaking above the risk line at $146 somewhat invalidated the sell signal, indicating a potential bullish scenario. This could drive the price towards the $155-$166 range. If SOL fails to maintain its current levels and falls below $150, it may retest the support at $123.20. A breach below this support could signal a bearish trend, with potential for further declines. Monitoring these key levels will be crucial for traders to make informed decisions.

Especially since the overall trend remains cautiously optimistic, contingent on SOL’s ability to overcome the highlighted resistance levels and maintain its upward momentum.