Market Analysis of SOLUSD on Thursday 22 August 2024

2024-08-22 19:01Source:BtcDana

Technical Analysis:
SOLUSDT is still within the Wave 4 structure, and a break above 150 on the daily timeframe would signal a strong breakout. The overall structure remains bullish, with SOL's price action closely mirroring that of BTCUSDT. Given SOL's solid consolidation near these levels, a breakout with a strong bullish candle could lead to a significant upward move toward the 175-180 levels. The key is to wait for the market to confirm these levels, as the breakout would serve as the perfect setup for further upside momentum. The structure and bias are both bullish; now, it's just about waiting for the market to deliver that confirmation.

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