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Solana Faces Centralization Fears After $147 Emergency Patch and Tight Price Setup
By: fxleaders|2025/05/06 21:30:01
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Solana (SOL) Technical Analysis: Symmetrical Triangle Breakout Looms As of writing Solana (SOL) is trading at 142.92 inside a tightening symmetrical triangle that’s been forming since mid April. Price bounced from the trendline support at 143.00 and is below the 50 period EMA at 146.13. MACD is negative but fading so it could be a move. Trade Levels to Watch: Buy above 147.60 , target 152.08 and 156.16 (stop 143.80) Sell below 140.50 , target 137.10 and 133.83 (stop 143.20) This is a breakout setup – either direction could play out so confirmation is key. Traders should wait for a strong close outside the triangle before entering positions. Takeaways: Solana’s patch was necessary but centralization fears resurface. Validator led governance could be a long term risk if left unaddressed. Technically SOL is at the edge of a breakout – stay alert. The crypto community will be watching – not just the price but how Solana answers the governance questions now at its door.
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