Solana Short-Term Indicator Signals Potential Risk – Reversal Or Pause? ⚠️
Solana is displaying signs of strength by pushing above a key resistance level, indicating that bulls are regaining some control after weeks of weakness. Although the macroeconomic environment remains uncertain with US-China trade tensions, improving investor sentiment fuels hope for a Solana recovery rally.
However, caution is advised as analyst Ali Martinez warns of a potential short-term pullback. The TD Sequential indicator on a 12-hour chart shows a sell signal, suggesting possible price exhaustion. Solana has surged over 48% since April 7, reaching a critical test at the $150 resistance level.
Even with recent recoveries, Solana remains significantly affected, having dropped over 65% since its January peak. Sustaining gains above the $150 level would confirm a reversal, but failure to do so may result in consolidation between $130 and $120, indicating potential price strength.
Macroeconomic factors continue influencing market sentiment, with US-China trade tensions still in play. Optimism persists for an agreement and increased global liquidity, especially within the altcoin sector.
Currently, Solana hovers around the $150 resistance level, crucial for confirming a breakout and sustained uptrend. Failure to maintain this level could result in deeper losses, highlighting the importance of holding support zones.