Two days ago $SOL swung almost 10% in a single session. The last 24 hours? A 2.2% box.
Here's the picture on the 1h chart:
• Price: $90.00, flat on the day (-0.04%)
• 24h range: 89.65 – 91.62
• 7d: down about 6% from 95.90, with the weekly low at 88.30 (Nov 5 flush)
• 30d: from 109 to 90, roughly -17.5%
• Volume: $111M in 24h vs a ~$187M daily average over the past month, about 40% lighter
What I read from this: the Nov 5 dump knocked SOL off the 95-97 shelf, and since then sellers haven't pushed it to new lows, but buyers haven't shown up with size either. Low volume compression after a big move usually resolves with expansion, I just wouldn't pretend to know the direction.
Levels I'm watching:
- 91.6: top of the box. Reclaiming it on rising volume opens the way back toward 95.
- 89.6 / 88.3: losing those on volume would put SOL at fresh lows for the month.
Until one side breaks, chasing either direction inside a 2% range is mostly paying fees.
Which way do you think this box breaks?
Not financial advice.
#Solana #SOL #CryptoTrading
Here's the picture on the 1h chart:
• Price: $90.00, flat on the day (-0.04%)
• 24h range: 89.65 – 91.62
• 7d: down about 6% from 95.90, with the weekly low at 88.30 (Nov 5 flush)
• 30d: from 109 to 90, roughly -17.5%
• Volume: $111M in 24h vs a ~$187M daily average over the past month, about 40% lighter
What I read from this: the Nov 5 dump knocked SOL off the 95-97 shelf, and since then sellers haven't pushed it to new lows, but buyers haven't shown up with size either. Low volume compression after a big move usually resolves with expansion, I just wouldn't pretend to know the direction.
Levels I'm watching:
- 91.6: top of the box. Reclaiming it on rising volume opens the way back toward 95.
- 89.6 / 88.3: losing those on volume would put SOL at fresh lows for the month.
Until one side breaks, chasing either direction inside a 2% range is mostly paying fees.
Which way do you think this box breaks?
Not financial advice.
#Solana #SOL #CryptoTrading
