Solana Forms Bull Flag, Eyes $140 Target Amid Bearish Momentum

Solana has completed a symmetrical triangle breakout and formed a clean bull flag on its daily chart, according to @TATrader_Alan. This development suggests that the price could reach $140 as part of a measured move.

Currently, Solana's price action is at $99.8, which sits below the 50-day exponential moving average (EMA) resistance at $102.23 but above the 200-day EMA support at $93.59. The Moving Average Convergence Divergence (MACD) death cross at -1.12 indicates bearish momentum, and the Relative Strength Index (RSI) is at 38.15, leaving room for further decline before reaching oversold territory.

The Bollinger Bands have placed immediate resistance at $105.63 and support at $98.42, meaning that any push higher may risk a quick rejection back towards the 50-EMA confluence before continuation.