SOLANA 1D MA200 is the only level holding it from falling apart.

Solana (SOLUSD) has been trading within a very structured Channel Up pattern since the April 07 bottom, which was priced exactly on its 1W MA200 (red trend-line). The recent pull-back though (Bearish Leg) has got the market testing another key Support level, the 1D MA200 (orange trend-line).

So far this has held on 4 successive tests, technically pricing a new Higher Low on the bottom of the Channel Up. This is what separates the start of the new Bullish Leg towards at least $278.00 (representing a +63.00% rise, the minimum rally so far inside this pattern) from a complete collapse to $105.00 and the 1W MA200. SOL needs to keep closing its 1D candles above the 1D MA200 to maintain the bullish trend.

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