SOL – Will the triangle hold?
2024-10-28

Some really strong bounce on SOL over the weekend, led by spot buying into the premium of the range.

We can look for a few different scenarios:

- Breakout consolidation (blue) would provide the strongest support for bulls to take it out of this range.
- Ltf consolidation (green) would be a scalp into supply above. It would be trickier to hold for ath for me because I'd have to take into account that we didn't really build support on the way up, therefor I have to take profits more aggressively.
- pullback into range poc and EMA. Current price levels can provide a good short if we can find a setup on ltf, tp would be around this 145 zone. Once there we can look for longs.
- If the market –for whatever reason– gives a bigger pullback, 90-100 would be a great long opportunity, although we would want to see a quick reclaim back into value asap