Lingrid | SOLUSDT consolidation Ahead of POTENTIAL Breakout
2024-10-01

The price perfectly fulfilled my previous idea. It reached the target zone.  BINANCE:SOLUSDT  has tested the psychological level at 160, where it formed a double top pattern before pulling back. This indicates a potential reversal or consolidation after hitting a significant level. Prior to this price movement, the market broke and closed above the another strong level at 150, which is a bullish sign and suggests that buyers are showing interest. On the daily timeframe, the market is testing a previous resistance zone, where price has previously encountered selling pressure and pulled back on two occasions. Analyzing the weekly timeframe, it is noteworthy that the last two candles were strong and showed momentum, reinforcing the bullish sentiment in the market. I expect the market to consolidate just below the resistance level at 160 before a breakout. My target is resistance zone at 165



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