Market Structure
SOL is trading in a short-term consolidation after a broader downtrend visible on higher timeframes. Price is holding above the intraday support zone, suggesting temporary stabilization, but higher-timeframe momentum remains mixed to bearish.
Key Levels
Resistance
135.50 – 136.00: Immediate supply zone; rejection likely on first test
140.00 – 144.00: Strong resistance band aligned with prior breakdown area
Support
132.00 – 132.70: First support; loss may invite quick selling
128.50 – 130.00: Major demand zone and downside target if 132 breaks
Indicator Insight
RSI (14): Neutral, indicating room for movement in either direction. No strong divergence at the moment.
Volume: Average; no expansion confirming a breakout yet.
Trade Scenarios
Bullish Case
A sustained hold above 135.50 with volume expansion could open a move toward 140.00, then 144.00.
Confirmation needed via strong 15m/1h closes above resistance.
Bearish Case
Failure to break 135.50 followed by a drop below 132.00 increases the probability of a move toward 130.00 and 128.50.
Watch for rejection wicks near resistance as early bearish signals.
Bias & Conclusion
Short-term bias: Neutral to mildly bearish below 136.
Mid-term bias: Bearish while price remains under 140–144 resistance.
Traders should wait for clear confirmation at key levels. Range trading strategies are favored until a decisive breakout or breakdown occurs. Risk management remains critical due to choppy conditions.
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