Solana rising wedge tests trendline support ahead of macro catal

Structure: After a strong multi‑month rally, SOL is coiling in a rising wedge. The price sits above a key ascending trendline but below a descending resistance line from its recent peak.

Momentum: Moving averages are converging and volume has tapered off, suggesting momentum is slowing.

Key triggers: A clear breakout above the descending resistance would signal renewed strength; a breakdown through the trendline could extend the pullback toward lower support.

Risk factors: Macro events—non‑farm payrolls, the monthly inflation report, and the late‑October Fed meeting—may trigger volatility across markets.

Trade idea:
Bullish: Wait for a daily close and retest above the wedge; use stops below the recent swing low; aim for the next major resistance zone.
Bearish: Watch for a close below the ascending trendline; short a retest of that level with stops above; target the next demand area.

Reminder: Manage risk carefully and adapt as market conditions evolve.