SOLUSDT Potential trend continuation after a correction
2024-10-01

SOLUSDT recently tested the psychological level at 160, forming a double top pattern, which could signal a potential reversal or consolidation after reaching this key level. Prior to this, the market broke and closed above another significant level at 150, a bullish indication that buyers are stepping in.

On the daily timeframe, the market is currently testing a previous resistance zone, where selling pressure led to pullbacks on two prior occasions. However, on the weekly timeframe, the last two candles have shown strong momentum, reinforcing the bullish sentiment in the market.

The price may consolidate just below the 160 resistance level before a potential breakout. The target is the resistance zone at 165