$SOL After a breakout with increased volume on the 4H level, the price is consolidating at around $87. This is a typical cooling off after a breakout, not a top reversal. Selling pressure is concentrated at $87.02-$87.04, while buying support is significant at $87.00-$87.01. The negative funding rate indicates that bearish sentiment still exists, which benefits long squeezes.
🎯 Direction: Go long
🎯 Entry: $86.80 - $87.10
🛑 Stop loss: $85.80 (strict stop loss, below the low of the previous 4H candlestick)
🚀 Target 1: $90.50 (previous high resistance)
🚀 Target 2: $94.00 (Fibonacci extension level)
Logic: The price has not shown a significant pullback after breaking through the dense range of $81-$85, indicating strong absorption of buying pressure. The current 4H candlestick is forming a flag pattern above the breakout zone, with declining volume, indicating a healthy reset. Open interest is rising alongside price increases, confirming the inflow of major funds. As long as the price holds above $86.00 (above the previous high), the structure remains bullish.
Trade here 👇
$SOL ---
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