SOL at a Crossroads — Bounce or Breakdown Ahead

The breakdown from the rising wedge is a bearish signal, suggesting a potential continuation of the downtrend.

Immediate Support: The next strong support lies around $181, which aligns with both the 200-day EMA and the ascending trendline support. This confluence zone will be crucial in determining if the bulls can defend the uptrend.

Resistance Levels: On the upside, resistance is seen near $220, which was the lower boundary of the wedge and may now act as resistance. Stronger resistance remains around $240–260.

Outlook: If SOL holds the $180 support, it may attempt a rebound. However, a breakdown below this level could accelerate bearish momentum, targeting the $150–160 range.