This technical analysis update highlights four critical instruments showing compelling price action: Solana, Silver, NVIDIA, and GBP/USD. Traders are watching closely as key levels approach across crypto, commodities, equities, and forex markets. Breakouts or rejections from current zones may define short-term momentum.
Technical Analysis Update: Solana (SOL/USDT)
Solana has been riding a strong bullish trend, with the price now challenging the key resistance at 205 USDT. This level acted as a major supply zone during the February drop, and price has now returned to retest it after forming a rounded bottom structure from the 120 region.
- The previous breakout above 159 USDT acted as a trigger for this rally.
- Volume is rising steadily, confirming the strength of the move.
- The next significant resistance is seen around 259 USDT, while 190 USDT becomes the immediate support on any pullback.
If SOL breaks and holds above 205 USDT, it could ignite a new leg toward the 250–260 zone.
Failure to break may lead to a retest of 190 or even the trendline around 150.
Technical Analysis Update: Silver (XAG/USD)
Silver is trading in a tight consolidation range just under the psychological barrier at 39.00 USD after a strong impulse move. The price is hovering near a local resistance, forming a small flag or potential continuation pattern.
- The breakout from the 37.00–37.50 USD accumulation range initiated this leg.
- The structure suggests bullish continuation, especially given the ascending volume profile.
- Key levels to watch: Support at 37.50 USD, resistance at 39.00–39.50 USD.
A breakout above 39.00 USD could quickly lead to an attack on the 41.00 USD region.
A breakdown from the short-term trendline may push price back to 35.50 USD support.
NVIDIA Breakout Rally – Blue Sky Setup
NVDA has broken out to all-time highs, rallying above the previous top near 150 USD and confirming it as new support. The stock is showing classic trend continuation behavior on the weekly chart, supported by strong bullish candles.
- The breakout zone around 150 USD was successfully retested and held.
- Price is now trading above 170 USD, with no immediate resistance above.
- Volume has slightly decreased compared to the initial surge, indicating a need for consolidation or a minor pullback.
As long as 150–155 USD holds, NVDA remains in blue-sky territory with potential toward 200+.
Any weekly close below 150 would invalidate the breakout thesis.
GBP/USD (British Pound / US Dollar)
GBP/USD is currently bouncing off an ascending trendline support, preserving the broader uptrend that has been in place since the start of the year.
- The price is forming higher lows and holding above the key level at 1.3410.
- The pair needs to break above 1.3590, a horizontal resistance, to regain bullish momentum.
- Volume remains stable, suggesting healthy interest in dip buying.
A break above 1.3590 opens the way to test 1.3760 and then 1.38+.
Losing the trendline and 1.3410 level may drag the pair back to 1.32 or lower.
Tags:
Leave A Comment