$SOL is presently trading within a rising wedge pattern on the 4-hour chart, with the current price around $82–$83 following a pullback from the recent $94 resistance level. The structure has been respected multiple times, and price is now approaching the lower wedge support, which is the key area to watch.
Current situation:
The $80–$81 region is acting as the lower boundary of this wedge. If buyers defend this support again, it could trigger another short-term bounce toward the upper wedge, similar to previous rotations inside the structure.
As long as #SOLANA holds this lower trendline, a reaction toward $86 → $90 is possible, with the $92–$94 zone remaining the major resistance near the upper wedge.
This type of structure often creates range trades inside the wedge, where price moves between the lower and upper boundaries before a decisive breakout happens.
However, if $80 breaks and price closes below the wedge, the structure weakens and we could see a deeper move toward $76–$74, which was the previous reaction zone.
A reaction from the lower wedge support could provide a long opportunity for a quick bounce, targeting the mid-range and upper wedge levels.
Key levels to watch
Support: $80–$81
Bounce targets: $86 → $90 → $92
Momentum will likely expand once the wedge eventually breaks.
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Current situation:
The $80–$81 region is acting as the lower boundary of this wedge. If buyers defend this support again, it could trigger another short-term bounce toward the upper wedge, similar to previous rotations inside the structure.
As long as #SOLANA holds this lower trendline, a reaction toward $86 → $90 is possible, with the $92–$94 zone remaining the major resistance near the upper wedge.
This type of structure often creates range trades inside the wedge, where price moves between the lower and upper boundaries before a decisive breakout happens.
However, if $80 breaks and price closes below the wedge, the structure weakens and we could see a deeper move toward $76–$74, which was the previous reaction zone.
A reaction from the lower wedge support could provide a long opportunity for a quick bounce, targeting the mid-range and upper wedge levels.
Key levels to watch
Support: $80–$81
Bounce targets: $86 → $90 → $92
Momentum will likely expand once the wedge eventually breaks.
➖➖➖➖➖
Follow Crypto Sat 🟨
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