Solana ($SOL) has been put under severe testing this week. After an impressive 14% rally last week, the bulls faced immediate rejection right at the 100-day Exponential Moving Average (EMA) near the $81.60 - $81.65 resistance level.
Currently, we are seeing a minor pullback as leveraged positions get flushed out, but the underlying metrics tell a much bigger story.
🔍 Technical & On-Chain Breakdown:
The Resistance: The 100-day EMA at $81.63 is acting as a major supply wall. We need a daily candle close above $82 to confirm a massive continuation breakout.
Institutional Demand: Despite the price pause, US-listed spot SOL ETFs recorded an inflow of $5.75 million last week. Big money is quietly accumulating on the dips.
Liquidation Heatmap: Derivatives positioning shows heavy liquidity clusters building up around lower support regions. If the market takes out short-term longs, a quick wick down to the $76 - $78 support zone will serve as an ideal re-entry area for scalp setups.
🎯 My Trading Strategy:
Bulls are still fundamentally in control as long-term on-chain activity remains highly active. I am personally hunting for long setups inside the $76–$78 zone, targeting a breakout back toward $85+ once momentum shifts.
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#Solana #SOL #CryptoTrading #TechnicalAnalysis #Binance