Solana's Bullish Signal Could Spark Short-Term Rally

Solana (SOL) continues to show resilience amidst a weaker broader market and volatile conditions, stabilizing above key support levels after a sharp correction. The TD Sequential indicator has signaled a buy on the daily chart, indicating a potential bullish reversal aligned with strong technical support zones. While resistance levels around $160 remain, a confirmed breakout could propel SOL toward new highs in the near term. Monitoring the support at $145 is crucial, as holding above this level could enhance bullish momentum, especially with improving sentiment in large cryptocurrencies. The recent decline from over $180 to around $145-$148 has been significant but not panicked by volume, suggesting a potential for reversal if positive signals continue to align. The technical setup, with key moving averages and strong support zones, aligns with a cautious optimism that Solana might soon regain upward momentum, potentially leading an upcoming altcoin rally if broader market conditions improve. Overall, the firm technical support, positive indicator signals, and stabilization suggest a cautiously bullish outlook for Solana in the short term, provided that it can hold key support and break resistance levels convincingly.