SOL is now around 76u, grinding right on the 7-day high without going up.
First, the conclusion: I’m slightly bullish from here, but I won’t chase. The capital has actually been flowing back—spot large orders are seeing continuous net inflows, and within 3 hours the money flow has built up to the maximum with a burst of 12 bullish candles. Even the whale accounts’ long/short ratio is being lifted. This base is solid and real.
The problem is on the derivatives side. Open interest has dropped almost 4 points in a single day. Both the 4-hour and daily charts are trending downward; when price tests up to 77.88, it turns soft. Volume is still about a notch below the average. Capital is buying, but leveraged capital is pulling out—momentum can’t quite connect.
In plain terms: "there’s support, but no breakout." Spot has buyers absorbing, but not strongly enough to push through the resistance level in one go. ATR is also reporting extreme volatility—at this spot, moves both up and down can be significant.
So I won’t act. I’ll wait for two signals: either a breakout confirmed by volume standing above 77.88, or a pullback to 75.4 where there’s clear support and then I’ll enter. Chasing now has mediocre risk-reward.
#sol $SOL
First, the conclusion: I’m slightly bullish from here, but I won’t chase. The capital has actually been flowing back—spot large orders are seeing continuous net inflows, and within 3 hours the money flow has built up to the maximum with a burst of 12 bullish candles. Even the whale accounts’ long/short ratio is being lifted. This base is solid and real.
The problem is on the derivatives side. Open interest has dropped almost 4 points in a single day. Both the 4-hour and daily charts are trending downward; when price tests up to 77.88, it turns soft. Volume is still about a notch below the average. Capital is buying, but leveraged capital is pulling out—momentum can’t quite connect.
In plain terms: "there’s support, but no breakout." Spot has buyers absorbing, but not strongly enough to push through the resistance level in one go. ATR is also reporting extreme volatility—at this spot, moves both up and down can be significant.
So I won’t act. I’ll wait for two signals: either a breakout confirmed by volume standing above 77.88, or a pullback to 75.4 where there’s clear support and then I’ll enter. Chasing now has mediocre risk-reward.
#sol $SOL