$SOL USD perpetual (15-min) chart on Binance. Hereโs a technical read based on whatโs visible (educational, not financial advice):
๐ Market Structure
Short-term trend: Bearish / corrective
Price rejected near 104.8โ105.0 (clear lower high)
Strong impulsive drop to ~102.0, followed by weak consolidation โ suggests sellers still in control
๐ Key Levels
Resistance
103.8โ104.5 โ prior support turned resistance
105.0 โ local high / supply zone
Support
102.0โ102.5 โ intraday support (already tested)
101.8โ102.0 โ key level (breakdown risk)
Below that: 100.0โ99.7 (psychological + marked on chart)
๐ฏ๏ธ Price Action Insight
The bounce after the drop is overlapping and weak โ typical of a bear flag / continuation setup
No strong bullish engulfing or higher low yet on 15m
If price fails to reclaim 103.8, downside continuation is more likely
๐ Scenarios
Bearish continuation
Rejection at 103.5โ104
Breakdown below 102
Targets: 100 โ 99.7
Bullish relief (needs confirmation)
Strong close above 104.5
Follow-through above 105
Only then does structure shift short-term bullish
โ ๏ธ Context Clues
Higher timeframes (7D, 30D, 90D) are heavily red โ rallies are likely to be sold
This favors shorts on resistance, not chasing longs at support
If you want, tell me:
๐ Are you trading scalp, intraday, or swing?
๐ Which timeframe matters most (15m, 1h, 4h)?
I can then map a clear long/short plan with
invalidation levels.
