Is $SOL about to lose $85?
SOL is sitting at $85.99, down 3.6% in 24h and 8.6% on the week. The low yesterday was $85.02 and today's is $85.14, the two lowest prints of the last 30 days. Buyers have stepped in at the same spot twice in a row.
What the chart says:
• 24h range: $85.02 – $90.01. The $90 shelf held for almost three days (Nov 5–7) before it broke yesterday.
• Volume: about $186M traded in the last 24h vs a ~$165M daily average over the prior 6 days. So the selling came with more volume, not less.
• The 7d high of $98.14 (Nov 4) now looks a long way off. The 30d high was $113.40.
Context: this isn't only a SOL problem. BTC is −2.3% and ETH −5.7% over 24h, so it's a market-wide risk-off day.
How I read it:
→ A clean 4h close under $85 would mean the double bottom failed, and the next stretch has no recent support on this chart.
→ A reclaim of $90 would turn yesterday's breakdown into a fakeout and put the $90–92 range back in play.
In between, it's chop. Do you buy the double bottom or wait for $90?
Not financial advice.
#Solana #SOL #CryptoTrading
SOL is sitting at $85.99, down 3.6% in 24h and 8.6% on the week. The low yesterday was $85.02 and today's is $85.14, the two lowest prints of the last 30 days. Buyers have stepped in at the same spot twice in a row.
What the chart says:
• 24h range: $85.02 – $90.01. The $90 shelf held for almost three days (Nov 5–7) before it broke yesterday.
• Volume: about $186M traded in the last 24h vs a ~$165M daily average over the prior 6 days. So the selling came with more volume, not less.
• The 7d high of $98.14 (Nov 4) now looks a long way off. The 30d high was $113.40.
Context: this isn't only a SOL problem. BTC is −2.3% and ETH −5.7% over 24h, so it's a market-wide risk-off day.
How I read it:
→ A clean 4h close under $85 would mean the double bottom failed, and the next stretch has no recent support on this chart.
→ A reclaim of $90 would turn yesterday's breakdown into a fakeout and put the $90–92 range back in play.
In between, it's chop. Do you buy the double bottom or wait for $90?
Not financial advice.
#Solana #SOL #CryptoTrading
