Testing Major Resistance — Breakout or Rejection?1
Hey traders! 👋
Solana (SOL/USDT) is approaching a crucial decision point on the 30-minute timeframe.
Here is what I'm looking at right now:
Trendline Resistance: Price is pressing right up against a prominent descending trendline around $73.60 - $74.00.
Ichimoku Cloud: Price has pushed above the cloud base and the Tenkan/Kijun, showing strong bullish momentum in the short term.
RSI: RSI is holding strong above 50 (~65 range), hinting at buying strength, but getting close to overbought levels on this timeframe.
Trade Scenarios:
Bullish Breakout: A clean candle close above the trendline with strong volume confirms a breakout targeting the next move higher (cyan path).
Rejection: If sellers step in at this trendline, look for a retest of lower cloud support near $73.00.
What’s your take? Are you going long on the breakout or waiting for a pullback? Drop your thoughts below! 💬👇
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