The SOL/USD pair has broken out of its long-term upward channel and continues to develop a new trend for the third consecutive month. The price is currently trading near 140.62 (Murray level [1/8], Fibonacci 23.6% correction). A firm break below this area would open the way toward 109.38 (Murray level [–1/8], Fibonacci 0.0% correction) and 93.75 (Murray level [–2/8]). For the bulls, the key resistance remains at 165.70 (Fibonacci 28.2%), located above the middle Bollinger Band. A breakout above this level could trigger an exit from the descending channel through its upper boundary and pave the way toward 203.12 (Murray level [5/8], Fibonacci 61.8%), 234.38 (Murray level [7/8]) and 250.00 (Murray level [8/8]). However, such a scenario appears less probable in the near term
Technical indicators support the likelihood of continued downside movement: the Bollinger Bands are sloping downward, and the Stochastic oscillator is pointing upward, allowing for a possible short-term correction, though its potential seems limited. At the same time, the MACD remains stable in negative territory.
The weekly chart also shows the formation of a potential “double top” pattern, which reinforces the downside outlook toward 93.75 (Murray level [3/8], W1).
Support and Resistance Levels
Resistance levels: 165.70, 203.12, 234.38, 250.00.
Support levels: 140.62, 109.38, 93.75.
Trading Scenarios and SOL/USD Forecast
Short positions may be considered below 140.62 or on a reversal near 165.70, targeting 109.38 and 93.75, with stop-losses at 160.40 and 184.00, respectively. Estimated duration: 5–7 days.
Scenario
| Timeframe |
Weekly |
| Recommendation |
SELL STOP |
| Entry Point |
139.40 |
| Take Profit |
109.38, 93.75 |
| Stop Loss |
160.40 |
| Key Levels |
93.75, 109.38, 140.62, 165.70, 203.12, 234.38, 250.00 |
Alternative Scenario
| Recommendation |
SELL LIMIT |
| Entry Point |
165.70 |
| Take Profit |
109.38, 93.75 |
| Stop Loss |
184.00 |
| Key Levels |
93.75, 109.38, 140.62, 165.70, 203.12, 234.38, 250.00 |
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