Key Points
- Solana (SOL) shows an inverse head-and-shoulders pattern, hinting at bullish reversal potential if it breaks $191 resistance.
- Dogecoin (DOGE) faces a 35% correction risk after failing to breach weekly bull flag resistance.
- Worldcoin (WLD) struggles near $2.07 resistance, with downside risks toward $1.69.
SOL, DOGE, and WLD have surged in trading volume over the past 24 hours, rebounding sharply from local support levels. However, skepticism lingers—are these recoveries sustainable or mere dead cat bounces?
Solana (SOL) Technical Analysis
Four-Hour Chart: Bullish Reversal in Progress
SOL’s inverse head-and-shoulders pattern on the four-hour chart suggests a potential uptrend. Key levels:
- Support: $175
- Resistance: $191 (neckline)
- RSI: Neutral at 47.26, indicating balanced momentum.
A breakout above $191 could target $200–$210. Conversely, failure to breach resistance may retest $175.
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Weekly Chart: Rising Wedge Warns of Downside Risks
- Support: $167 (0.618 Fib level)
- Resistance: $210 (0.786 Fib level)
- Bearish Scenario: A drop below $167 may validate a falling wedge target near $70.
Dogecoin (DOGE) Technical Analysis
Four-Hour Chart: Resistance at $0.35
- Support: $0.317
- Resistance: $0.35 (200-4H EMA)
- RSI: Moderately bullish at 55.94.
A breakout above $0.35 could propel DOGE to $0.37–$0.40. Rejection risks a fall to $0.32.
Weekly Chart: Bull Flag Breakdown Threatens 35% Drop
- Critical Support: $0.21 (50-week EMA)
- Bearish Target: A 35% decline from current levels if the bull flag fails.
Worldcoin (WLD) Technical Analysis
Four-Hour Chart: Sell Wall at $2.07
- Resistance: $2.01–$2.07
- Support: $1.85 (descending trendline)
- RSI: Below 48.55, signaling weak momentum.
Reclaiming $2.07 as support could push WLD toward $2.15.
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Weekly Chart: Long-Term Ascending Trendline Test
- Support: $1.69 (multi-year trendline)
- Resistance: $2.68 (50-week EMA).
FAQs
Q: Is SOL’s rebound sustainable?
A: Only if it breaks $191 resistance; otherwise, expect retests of $175.
Q: Could DOGE drop 35%?
A: Yes, if weekly bull flag support at $0.21 fails.
Q: What’s WLD’s key resistance?
A: $2.07—a breakout here could invalidate bearish trends.
Conclusion
While SOL, DOGE, and WLD show short-term rebounds, their weekly charts reveal lingering risks. Traders should watch key resistance levels to confirm trend reversals. Stay updated with real-time analysis to navigate these volatile markets.