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SOL COIN: Tech Pattern Hints at Price Shift
A rising wedge pattern has popped up on the $SOL chart. Looks bearish. The uptrend might be running out of steam. Might flip. Price could drop.
The Rising Wedge Situation
So here's what's happening. $SOL moves up between two lines that get closer. Higher highs, higher lows. But the squeeze is real. The space narrows. Bulls seem tired. Sellers creep in.
It's kind of surprising how textbook this pattern looks. The buying energy fades. Not entirely clear when it'll break, though. We'll know it's confirmed when price smashes through the bottom line. Then things might get ugly.
Trading It
Got a simple plan:
Short when $SOL breaks below the bottom line and closes there. That's your signal.
Put your stop-loss above the upper line. Protect yourself.
Look for targets at old support zones. Or where the wedge started.
Bigger Picture: TOTAL3
The wider alt market looks shaky too. TOTAL3 chart (that's all coins minus Bitcoin and Ethereum) has similar converging lines. Alt season losing momentum?
If TOTAL3 breaks down, lots of alts will probably bleed. $SOL might feel extra pressure.
Watch Out
This is for spot trading. Crypto is wild. Manage risk. Don't bet the farm.
Do your own research. Market changes fast. Stay alert.