$SOL Technical Update: Consolidation or Breakdown? 🚀📉
Solana ($SOL) is currently at a critical technical junction. After a volatile January, the price is testing a major "demand zone." Here’s what you need to know for your next move:
🔍 The Current Setup
Price: ~$118.17 USDT
Trend: Neutral-Bearish (Short-term) / Bullish (Long-term)
RSI: ~35 (Approaching oversold—watch for a "relief bounce" soon).
Structure: SOL is currently trading below the $129 pivot. Until we reclaim this, the bears have the upper hand.
🧗 Key Levels to Watch
🚧 Resistance: $123.00 (Immediate) & $129.00 (Major). A 4H candle close above $123 is the first sign of life for the bulls.
🛡️ Support: $116.00 is the "Line in the Sand." If this holds, expect a double-bottom reversal. If it breaks, we could see a quick slide to $109.00.
💡 Trader's Game Plan
Bullish Case: Look for a "Long" entry if price flips $123 into support, targeting $135+.
Bearish Case: If $116 breaks with high volume, expect further downside. Hedging or waiting for the $100-$109 zone might be safer.
Strategy: Laddered spot buys between
$110-$118 are attractive for long-term holders eyeing the 2026 "Alpenglow" upgrade.
Bottom Line: SOL is cooling off after a hot start to the year. Patience is key—don't chase the mid-range; wait for the levels to hit. 💎🙌
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