The SOL/USD pair continues to trade within a long-term upward channel but has been actively testing its lower boundary for the past two weeks, attempting to break below it. Consolidation beneath the support zone of 187.50–183.80 (Murray level [4/8], Fibonacci correction 50.0%) may trigger a decline toward 165.70 (Fibonacci correction 38.2%) and 140.62 (Murray level [1/8], Fibonacci correction 23.6%). The key level for bulls is seen at 203.12 (Murray level [5/8], Fibonacci correction 61.8%): a breakout above it will resume upward momentum toward the upper boundary of the ascending channel through 234.38 (Murray level [7/8]), 250.00 (Murray level [8/8]), and 265.62 (Murray level [+1/8]).
Technical indicators confirm the likelihood of further downside movement: Bollinger Bands are directed downward, MACD remains in the negative zone, and Stochastic has turned flat after a period of growth.
On the weekly chart, the price is attempting to break below the middle Bollinger Band, which, if successful, would confirm the prospects of a deeper price correction.
Support and Resistance Levels
Resistance levels: 203.12, 234.38, 250.00, 265.62.
Support levels: 183.80, 165.70, 140.62.
Trading Scenarios and SOL/USD Forecast
Short positions may be opened below 183.80 with targets at 165.70 and 140.62, and a stop-loss at 197.00. Implementation period: 5–7 days.
Long positions may be opened above 203.12 with targets at 234.38, 250.00, and 265.62, and a stop-loss at 187.00.
Scenario
| Timeframe |
Weekly |
| Recommendation |
SELL STOP |
| Entry Point |
183.75 |
| Take Profit |
165.70, 140.62 |
| Stop Loss |
197.00 |
| Key Levels |
140.62, 165.70, 183.80, 203.12, 234.38, 250.00, 265.62 |
Alternative Scenario
| Recommendation |
BUY STOP |
| Entry Point |
203.15 |
| Take Profit |
234.38, 250.00, 265.62 |
| Stop Loss |
187.00 |
| Key Levels |
140.62, 165.70, 183.80, 203.12, 234.38, 250.00, 265.62 |
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