SOL looks strong but I’m not fully convinced yet.
$SOL is back around $76, but it’s still fighting a descending trendline that has rejected price multiple times.
From $98 → $76 = 22% down.
And after the recent bounce from $62, we’re already 24% up.
Looks strong on the lower timeframe.
But zoom out and we’re still below the major descending trendline from $98.
And we’re seeing some heavy red candles around this zone.
So yeah, the pump looks nice.
Just don’t confuse a bounce with a breakout.
$80+ would make me much more comfortable.
Until then,stay cautious.
$SOL is back around $76, but it’s still fighting a descending trendline that has rejected price multiple times.
From $98 → $76 = 22% down.
And after the recent bounce from $62, we’re already 24% up.
Looks strong on the lower timeframe.
But zoom out and we’re still below the major descending trendline from $98.
And we’re seeing some heavy red candles around this zone.
So yeah, the pump looks nice.
Just don’t confuse a bounce with a breakout.
$80+ would make me much more comfortable.
Until then,stay cautious.