$SOL
Sol Major Resistance Confluence & Rejection Setup ๐
SOL is flashing a critical technical setup as price action approaches a heavy resistance confluence โ a zone where multiple bearish signals overlap, increasing the probability of a downside reaction.
๐ง 1. Major Resistance Block Tested
SOL has reached a key resistance area between $200 โ $210, a zone where price has been rejected multiple times in the past.
This zone acts as a supply block, where sellers continue to dominate.
๐ 2. Downtrend Line + Horizontal Resistance
A descending trendline from the recent swing highs intersects perfectly with the horizontal resistance.
This creates a double confluence, strengthening the likelihood of rejection.
When a trendline + horizontal resistance meet, price often stalls or reverses sharply โ exactly what weโre seeing now.
๐ป 3. Rejection Candle Structure Appears
Recent candles show:
Long upper wicks
Weak bullish follow-through
Strong bearish engulfing signs
This confirms seller aggression at the top of range.
โ ๏ธ 4. Breakdown Threat Increasing
If SOL fails to reclaim the $200 zone with strong volume, the next support targets could be:
$180 (minor support)
$165 โ $170 (major demand zone)
$150 (trend support + psychological level)
A break below $180 could trigger accelerated downside momentum.
๐งญ What Bulls Need
For bullish continuation, SOL must:
Break and close above $210
Retest the level as support
Push toward $230 โ $250
Without this, the bearish confluence remains dominant.
๐ฏ Conclusion
SOL is at a critical crossroads. Resistance confluence, trendline rejection, and bearish candle formations suggest a possible deeper pullback in the near term.
Traders should monitor the $200 โ $210 zone closelyโthis is where the next major move will be decided.