Technical Analysis of SOL/USDT (Weekly Chart)

The chart shows a Falling Wedge pattern – a typically bullish reversal formation.

A breakout to the upside from the wedge has occurred, signaling the potential start of an upward trend.

📉 Entry Zone (LONG HERE):
Clearly marked around the Fibonacci support levels:

0.618 (~130 USDT)

0.786 (~115 USDT)

This support zone is strong and ideal for long positions.

📊 Fibonacci Retracement Levels:
0.382 – First resistance

0.5 – Mid-level resistance

0.618 – Strong retracement support that price bounced from

🎯 Target Projections:
204.31 USDT – First target; a strong historical resistance.

229.01 USDT – Second target; a breakout above this would confirm bullish strength.

258.45 USDT – Final target if the bullish momentum continues.