Technical Analysis SOL as of 3M: 4 weeks of consolidation Is a breakout imminent or a bearish continuation?
Good morning Solana family. We start March with our eyes on the chart of $SOL because we are in one of the longest consolidation phases of the year: 4 weeks trapped between support and resistance without a clear direction defined.
I just reviewed the on-chain data, institutional flows, and technical analysis for this week, and this is what I see:
1️⃣ Current Price: Solana is trading around $84 - $85, completing its fourth consecutive week within a lateral range between $77 and $88. February closed with a 17% drop, adding to the -15% of January, breaking the historically positive seasonality that the first quarter usually had.