Solana (SOL) has been consolidating inside the blue pennant since September 9th, when the price reached an all-time high of $216. SOL looks primed to break out of this formation any time now. The struggle between the bulls and bears will be decided once the price passes the key resistance ($170) or support ($140) levels. The tension builds up for an eventual breakout as the price approaches the apex of the triangle.
Volume: The volume has been flat ever since the price entered the current pennant. The next move can be in either direction at this point.
RSI: The RSI gives a slight bullish bias due to the higher lows. However, it also needs to register a higher high before the up-trend is confirmed.
MACD: The histogram on MACD is bullish, but the moving averages have not formed a bullish cross yet. As soon as that happens, the bias can turn positive, particularly if the price breaks above the blue pennant.
