$SOL #SOLStandsStrong

SOL/USDT chart data, Here is a technical analysis covering candlestick patterns, market structure, support and resistance, and chart patterns.

Market Structure

· Framing: On the 1-hour (1h) timeframe, the market is trading above the SAR (Sar Parabolic) indicator at 83.94, which is a bullish signal.
· Trend Context: The price is currently sitting just below the recent 24h High of 85.48. The fact that the price is holding above the middle line of the Bollinger Bands (84.32) suggests that momentum is favoring the bulls in the short term.

Support and Resistance

· Immediate Resistance: $85.66 (UB) – This is the Upper Bollinger Band. The 24h High of 85.48 is testing this dynamic resistance.
· Key Resistance (Psychological): $86.00 - $87.00 – If the price breaks above the upper band, the next target is likely this psychological zone.
· Immediate Support: $84.32 (Middle Bollinger Band) – This acts as the first line of defense for the bulls. As long as price holds above this, the trend is healthy.
· Critical Support: $82.97 (LB) – This is the Lower Bollinger Band. A break below this level would likely signal a shift in momentum to the downside.
· Key Support Zone: $80.00 - $80.83, this is a strong historical zone that held previously.

Candlestick Pattern

· While the specific shapes of the last few candles aren't visible in the text data, the price action is "coiling" or tightening.
· Observation: The price ($84.75) is trading between the Upper Band ($85.66) and the Middle Band ($84.32). This indicates low volatility and consolidation. In Bollinger Band terms, when the price walks between the middle and upper band, it is generally a sign of a bullish trend with momentum.

Chart Pattern

· Bull Flag / Consolidation:
· Based on the numbers, the price moved from the low of 81.78 to the high of 85.48.
· It is currently resting/slightly pulling back around 84.75.
· If the price is moving sideways with a slight upward tilt between 84.32 and 85.48, this forms a Bullish Flag pattern. A breakout above 85.66 (UB) would confirm the continuation of the uptrend.

Summary of Bias:
The market structure is bullish as long as the price remains above **$84.32**. A squeeze is likely coming soon due to the tightening Bollinger Bands. The bias is to look for a breakout above $85.48 for a continuation toward $87.00.