$SOL is consolidating above the key support zone after a decline on increasing volume. The price drop is accompanied by high open interest, which is typical of a long liquidation and not a distribution by the main force. The market shows that selling pressure has been effectively absorbed.
🎯 Direction: Long
🎯 Entry: 118.50 - 120.00
🛑 Stop Loss: 115.00 (hard stop loss)
🚀 Target 1: 128.00
🚀 Target 2: 135.00
The decline of $SOL is driven by long liquidations under high open interest, creating healthy liquidity cleansing. The price has stabilized above the previous key demand zone (115-120), and the downward momentum has weakened, with no sustained follow-up selling. This is a typical corrective pullback, providing fuel for the next rally. As long as the stop loss level is not breached, the probability of regaining upward momentum is higher.
Trade here 👇$SOL
SOLUSDT
Perp
80.6
-0.64%
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