Solana Faces Mid-Channel Standoff As Hourly Weakness Challenges Bullish Structure
The post Solana Faces Mid-Channel Standoff As Hourly Weakness Challenges Bullish Structure appeared on BitcoinEthereumNews.com. Solana remains bullish on the daily chart, cruising within a strong ascending channel and pushing toward the mid-range with fresh upside momentum. However, short-term weakness on the hourly chart shows price slipping below key moving averages, signaling potential pressure. Daily Chart Holds Bullish Structure GodstarPL, in a detailed update posted on X, emphasized that Solana is currently cruising inside a strong ascending channel on the daily chart. This steady bullish structure reflects consistent buying interest and price strength over time. At present, SOL is pushing toward the mid-range of this channel, indicating fresh upside momentum and a possible continuation of its upward trajectory. If the bulls manage to maintain this pressure, the next logical target would be the upper boundary of the channel, which lies near the $220 mark. Reaching this level, which is serving as a crucial resistance zone, would signify a significant milestone, reinforcing the resilience of the current bullish trend and potentially attracting more buying activity. On the other hand, a slip below the channel’s mid-line could trigger a pullback toward the $160 demand zone, a key level that has historically provided strong support. This area is critical for buyers to defend in order to prevent a deeper decline and maintain the overall bullish structure. Monitoring this level will be essential for gauging whether the upward momentum can sustain or if a more significant correction is underway. Solana Short-Term Trend Shows Signs Of Bearish Behavior Despite the bullish structure reflected on the daily chart, Gemxbt, in a separate update, pointed out that Solana exhibited a bearish setup on the 1-hour timeframe at the time of the post. Short-term market sentiment has shifted, with price action trading below the 5, 10, and 20-period moving averages — a clear indication of near-term selling pressure. Adding to this bearish tone,…
The post Solana Faces Mid-Channel Standoff As Hourly Weakness Challenges Bullish Structure appeared on BitcoinEthereumNews.com.
Solana remains bullish on the daily chart, cruising within a strong ascending channel and pushing toward the mid-range with fresh upside momentum. However, short-term weakness on the hourly chart shows price slipping below key moving averages, signaling potential pressure. Daily Chart Holds Bullish Structure GodstarPL, in a detailed update posted on X, emphasized that Solana is currently cruising inside a strong ascending channel on the daily chart. This steady bullish structure reflects consistent buying interest and price strength over time. At present, SOL is pushing toward the mid-range of this channel, indicating fresh upside momentum and a possible continuation of its upward trajectory. If the bulls manage to maintain this pressure, the next logical target would be the upper boundary of the channel, which lies near the $220 mark. Reaching this level, which is serving as a crucial resistance zone, would signify a significant milestone, reinforcing the resilience of the current bullish trend and potentially attracting more buying activity. On the other hand, a slip below the channel’s mid-line could trigger a pullback toward the $160 demand zone, a key level that has historically provided strong support. This area is critical for buyers to defend in order to prevent a deeper decline and maintain the overall bullish structure. Monitoring this level will be essential for gauging whether the upward momentum can sustain or if a more significant correction is underway. Solana Short-Term Trend Shows Signs Of Bearish Behavior Despite the bullish structure reflected on the daily chart, Gemxbt, in a separate update, pointed out that Solana exhibited a bearish setup on the 1-hour timeframe at the time of the post. Short-term market sentiment has shifted, with price action trading below the 5, 10, and 20-period moving averages — a clear indication of near-term selling pressure. Adding to this bearish tone,…
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