- Sologenic’s breakout from a falling wedge and bullish divergence signals a potential 251% surge toward the $0.875 level.
- After retracing 85% from its highs, $SOLO shows strong accumulation signs near $0.20000 with reduced selling pressure.
- Momentum indicators and rising volume confirm bullish setup as $SOLO eyes the $1.50 mark if $0.875 resistance breaks.
After months of bearish consolidation, analyst Javon Marks believes Sologenic ($SOLO) is ready for a breakthrough. The price has risen over a falling wedge resistance after confirming a positive divergence. This noteworthy technical advancement raises the possibility of a change in momentum.
Currently hovering near the $0.20000 support zone, the token is stabilizing after retracing nearly 85% from its 2024 highs. The recent breakout positions $SOLO for a possible rally back toward the $0.875 level, marking over 251% upside. At that level, the $1.50 zone comes into play, setting the stage for further bullish movement if momentum sustains.
Technical Structure Signals Recovery Potential
The chart structure reveals a textbook falling wedge spanning several months. This pattern developed after $SOLO peaked near $1.30 in October 2024. Following the peak, a steep decline ensued, forming a clean descending channel. Each rejection from resistance led to renewed selling pressure. However, the price now trades close to the wedge’s lower boundary. Here, it shows signs of bottoming and potential accumulation.
Souce: Javon Marks
Moreover, momentum indicators show multiple oversold readings. Oscillators highlighted divergence as the price formed lower lows, while indicators formed higher lows. This contrast between price and momentum signals growing bullish pressure. Additionally, candlestick patterns at recent lows reveal reduced selling, hinting at growing buyer interest.
Key Levels to Watch Moving Forward
Besides the confirmed bullish divergence, trading volume adds further weight to the setup. Volume surged near the October peak and again during key bounce attempts. Recent volume suggests accumulation rather than panic selling. This reinforces the idea that buyers are stepping in at current levels.
Hence, $0.20000 stands as a critical support zone. A firm hold here could build the foundation for a larger recovery. If $SOLO reclaims $0.875, the market may target the $1.50 range next. That level represents an important psychological and technical threshold.
