Solana delivered another impressive performance yesterday, continuing its relentless march higher as our multi-timeframe analysis correctly identified the underlying bullish momentum. The token pushed above $247, validating our long bias from previous sessions and demonstrating the power of higher timeframe analysis over short-term noise. What we witnessed was a textbook continuation of the weekly uptrend, with institutional money flow remaining consistently positive across all major timeframes.
Yesterday’s price action confirmed what our DMI and MACD indicators had been suggesting – this wasn’t just speculative froth but sustained directional momentum backed by genuine accumulation. The 12-hour and daily timeframes showed particularly strong readings, with RSI levels reaching overbought territory in a healthy, trending fashion rather than exhaustion patterns. Our DEMA support levels at 231-237 held firm, providing the technical foundation for the continued advance.
Today’s analysis reveals we’re approaching a natural inflection point. While the overall structure remains robustly bullish, extreme readings on shorter timeframes suggest SOL may pause to consolidate recent gains. The weekly chart still screams upward momentum, but prudent traders should prepare for a tactical pullback toward the $230-240 support zone before the next leg higher. This isn’t bearish capitulation but rather healthy profit-taking after such dramatic gains.
Looking ahead, we anticipate SOL will find buyers on any meaningful dip toward our identified support levels. The institutional accumulation patterns visible in our CMF readings suggest smart money remains positioned for higher prices. Our base case scenario involves consolidation over the next 24-48 hours, followed by renewed buying pressure that could target the $260-270 resistance zone. The key is distinguishing between temporary digestion and structural breakdown – something our multi-timeframe approach helps clarify.
For traders, this setup offers an excellent risk-reward opportunity. Long positions on pullbacks toward $235-240 appear favorable, with stops below $225 and targets at $265-275. The weekly trend provides substantial tailwinds, while shorter-term consolidation offers attractive entry points
for those who missed the initial breakout. Solana’s technical picture remains constructive, suggesting this bull run has more room to run despite near-term overbought conditions requiring tactical patience.
#Solana #SOL #CryptoTrading #TechnicalAnalysis #Altcoins #BullMarket
SOL Soars: Riding the Weekly Wave While Eyeing Smart Entries
SOL Soars: Riding the Weekly Wave While Eyeing Smart Entries
Indicators graph +-1 bullish bearish , +-0.5 weak exhausted bullish bearish , bar extending -0.5 to +0.5 neutral ( no direction)
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