Before #SOL , it surged to around $107, but it hit resistance and failed to break through. Now the price is roughly $102.1. At the moment, price hasn’t broken the prior low structure yet, and it’s clear that the bears are still pressing the bulls, with upside potential being capped.
The $103.5–$104.5 area is a critical resistance zone right now. If SOL attempts a rebound, but is once again pushed back down in this range, and then breaks below the EMA34 and EMA89 lines in the $101.7–$102.0 area, it’s highly likely to first slide toward $100, and then keep moving lower to the key target at $99.
Today’s broader macro backdrop is also leaning toward the market pulling back. Brent crude has returned to around $107, the US 10-year Treasury yield has touched 5%, and market consensus suggests there’s roughly a 90% chance the Fed will raise rates by 25 basis points this week. In this environment, pressure on risk assets—and on high-volatility altcoins like SOL—is still quite significant.
Only if SOL can genuinely break above the resistance trendline and hold steadily above $104.5–$105 would this bearish thesis need to be discounted.
The $103.5–$104.5 area is a critical resistance zone right now. If SOL attempts a rebound, but is once again pushed back down in this range, and then breaks below the EMA34 and EMA89 lines in the $101.7–$102.0 area, it’s highly likely to first slide toward $100, and then keep moving lower to the key target at $99.
Today’s broader macro backdrop is also leaning toward the market pulling back. Brent crude has returned to around $107, the US 10-year Treasury yield has touched 5%, and market consensus suggests there’s roughly a 90% chance the Fed will raise rates by 25 basis points this week. In this environment, pressure on risk assets—and on high-volatility altcoins like SOL—is still quite significant.
Only if SOL can genuinely break above the resistance trendline and hold steadily above $104.5–$105 would this bearish thesis need to be discounted.
