SOL/USDT — Price Retests Prior Low, New OB Forms at 105.88-106.32
After a strong rally to a high of 110.61, SOL went through a deeper pullback, retesting the prior low zone around 105.88-106.32 before bouncing back up to the 106.7-106.8 area.
📊 Current Structure:
Price retested a prior support zone (105.88-106.32) — this area lines up with the previous low that had earlier served as the breakout base, confirming it as a reliable demand zone A new order block has formed right at this retest zone on the M5 timeframe, showing buyers continuing to defend this price level Nearby resistance: 108.16 Resistance/target above: 110.59 - 110.61
🎯 Outlook:
Price returning to retest the prior low and bouncing right back is a positive sign that this support zone is holding, adding further support to the continuation scenario for the uptrend. The new OB at 105.88-106.32 could be worth watching as an entry zone if price comes back to test it again.
⚠️ Note: this is the second test of this support zone in a short period — if it breaks on a subsequent test, a deeper pullback toward lower levels should be considered. A reasonable stop loss would sit below 105.88.
This is a personal technical view, not investment advice. DYOR and always manage your risk.
$SOL
#SOLUSDT #TechnicalAnalysis #SmartMoney
After a strong rally to a high of 110.61, SOL went through a deeper pullback, retesting the prior low zone around 105.88-106.32 before bouncing back up to the 106.7-106.8 area.
📊 Current Structure:
Price retested a prior support zone (105.88-106.32) — this area lines up with the previous low that had earlier served as the breakout base, confirming it as a reliable demand zone A new order block has formed right at this retest zone on the M5 timeframe, showing buyers continuing to defend this price level Nearby resistance: 108.16 Resistance/target above: 110.59 - 110.61
🎯 Outlook:
Price returning to retest the prior low and bouncing right back is a positive sign that this support zone is holding, adding further support to the continuation scenario for the uptrend. The new OB at 105.88-106.32 could be worth watching as an entry zone if price comes back to test it again.
⚠️ Note: this is the second test of this support zone in a short period — if it breaks on a subsequent test, a deeper pullback toward lower levels should be considered. A reasonable stop loss would sit below 105.88.
This is a personal technical view, not investment advice. DYOR and always manage your risk.
$SOL
#SOLUSDT #TechnicalAnalysis #SmartMoney
