Week Forward from a Technical Perspective…

SOL/USD: Bears Resume Management

Final week, I highlighted the potential of a ‘pop’ to the upside on SOL/USD (Solana versus the US greenback). I can’t go into element right here, however suffice it to say the commerce was backed by every day help from US$163.90; I felt that although a transparent draw back bias is in play, the lows round US$174.30ish would supply enough liquidity (promote stops beneath the lows) to bolster a short-term rebound from every day help. Coupled with a accomplished inverted head and shoulders sample on the H1 timeframe, this was a ‘no-brainer’ technical lengthy alternative in direction of the sample’s revenue goal at US$179.90.

As you possibly can see, the aforementioned commerce performed out as anticipated, and bears resumed management on the tail finish of final week. Since 2025 has been trending downward, a break of present every day help may now be on the radar. Arguably, patrons might step in from demand at US$147.27-US$158.53, positioned just under, however as a result of the world already welcomed patrons in November 2024, it could be susceptible. Had been worth to navigate under this base, I see restricted ‘energetic’ help till between US$117.04 and US$120.26.

On account of the above evaluation, my outlook for SOL/USD is bearish. H1 resistance at 172.93, subsequently, may very well be a location to observe carefully at first of the week for a potential sell-on-rally state of affairs.