$SOL is currently around 122.88 on the 1H chart. Notice how price broke above the descending trendline and then pushed strongly toward 124.95 before facing rejection. After that move, sellers pulled price back toward the 120.88 area, but buyers stepped in and price is now recovering. This makes 120.88 an important short term support to watch. ๐
Take a look at the upside levels ๐ Price first needs to reclaim 123.81, which is the visible resistance area. A strong move above that could bring 124.95 back into focus, followed by the 125.29 area. The breakout was also accompanied by increased volume, while RSI is around 57.98, showing momentum has recovered without being deeply overbought.
On the bearish side, watch how price reacts around 120.88. If this support fails, the next visible area is around 120.07, and a deeper breakdown could bring the recent 118.27 low into focus. For the bullish scenario, holding above 120.88 and breaking 123.81 would keep the recovery structure stronger. โก๏ธ
For now, keep an eye on 123.81 and 120.88. A clean break and hold above 123.81 would strengthen the upside case, while losing 120.88 would invalidate the current recovery idea and shift attention toward the lower supports. ๐ฏ
Guys follow for more chart analysis ๐ Iโll keep showing you exactly what the chart is telling us. ๐๐ฅ
Take a look at the upside levels ๐ Price first needs to reclaim 123.81, which is the visible resistance area. A strong move above that could bring 124.95 back into focus, followed by the 125.29 area. The breakout was also accompanied by increased volume, while RSI is around 57.98, showing momentum has recovered without being deeply overbought.
On the bearish side, watch how price reacts around 120.88. If this support fails, the next visible area is around 120.07, and a deeper breakdown could bring the recent 118.27 low into focus. For the bullish scenario, holding above 120.88 and breaking 123.81 would keep the recovery structure stronger. โก๏ธ
For now, keep an eye on 123.81 and 120.88. A clean break and hold above 123.81 would strengthen the upside case, while losing 120.88 would invalidate the current recovery idea and shift attention toward the lower supports. ๐ฏ
Guys follow for more chart analysis ๐ Iโll keep showing you exactly what the chart is telling us. ๐๐ฅ
